HC Deb 13 March 1997 vol 292 cc322-3W
Mr. Trotter

To ask the Chancellor of the Exchequer how much additional tax would be raised if pension funds were not able to recover advance corporation tax. [19843]

Mr. Jack

Pension funds are unable to recover ACT. However, if they were not entitled to receive payments of tax credits on dividend payments there would be an Exchequer gain, before allowing for any behavioural effects, of nearly £4 billion.