§ Mr. FlightTo ask the Chancellor of the Exchequer what has been the total cost to local government pension schemes resulting from the abolition of advanced corporation tax relief on pension funds. [14698]
§ Dr. WhiteheadI have been asked to reply.
The LGA estimated that the net effect of the 1997 decision to abolish advance corporation tax relief on local authority pension funds was £130 million. The Government specifically took account of this estimate in the spending plans set by the 1998 Comprehensive Spending Review.