§ Mr. WebbTo ask the Chancellor of the Exchequer if he will estimate the cost to the Exchequer of allowing tax relief on pension contributions at the standard rate of income tax, regardless of the actual tax rate of the contributions. [27688]
§ Ruth KellyThe estimated full year yield from restricting income tax relief on pension contributions by employees and the self-employed in 2001–02 is £1.7 billion, and on contributions by employers £2.6 billion. These estimates take no account of the behavioural effects which are likely to result from such changes.