§ Mr. Malcolm BruceTo ask the Secretary of State for the Environment, Transport and the Regions what is his estimate of the cost to local authorities in(a) 1998–99 and (b) 1999–2000 of the Budget proposals to abolish the payable tax credits for pension schemes; how local authorities are to be compensated; and if he will make a statement. [8320]
§ Mr. RaynsfordThe extent to which local authorities will be affected by the Budget proposals will depend upon the outcome of the next triennial actuarial valuation, due on 31 March 1998 in England and Wales, and to subsequent discussions between actuaries and their local authority clients. I will consider carefully any representations made in the light of those considerations.