§ Mr. MacShaneTo ask the Chancellor of the Exchequer, pursuant to his answer of 7 February,Official Report, column 733, what is the total tax relief granted in respect of the profit-related pay schemes notified to the Inland Revenue (a) between September 1996 and the end of January 1997, (b) in 1996, (c) in 1995 and (d) in 1994. [17201]
§ Mr. JackThe available information is in the table. This is based on the estimated total amount of profit-related pay which will be received for a profit period by participating employees in each scheme. The information is supplied on the application forms submitted by employers registering their schemes.
Schemes registered in: Estimated cost of income tax relief £ million 1 September 1996 to 31 January 1,100 1997 1996 1,650 1995 1,000 1994 550 1 These figures are tentative and subject to a wide margin of error.