§ Mr. BercowTo ask the Chancellor of the Exchequer what assessment he has made of the effect of the abolition of the tax credit on dividends on the size of UK pension funds. [136417]
§ Miss Melanie JohnsonThe Government's package of corporation tax reforms included not only the withdrawal of payable tax credits on dividends but also cuts in corporation tax rates. These and other measures will help to improve investment performance. The effect of these changes on the size of UK pension funds will vary depending upon many factors, such as: the type of scheme; the take-up of private pensions; the level of future contributions and the investment policy adopted by fund managers.