§ Matthew TaylorTo ask the Chancellor of the Exchequer if the estimated cost of income tax relief for approved pension schemes as stated in table 7 of the November 2002 'Tax Ready Reckoner and Tax Reliefs' includes tax paid on all pension payments including the state retirement pension; what the tax take was from pension income netted off in the total cost given in the row; and if he will make a statement. [91743]
§ Ruth KellyThe estimated net cost of relief for approved pension schemes is the sum of the front-end contributions to these schemes plus the relief on the investment income of funds, net of the tax paid on current private pensions in payment. Since income tax relief is not given on an accruing entitlement to the state retirement pension it would not be appropriate to include current payments from these in the net cost of relief to private schemes.
A more detailed breakdown of the estimate for 2001–02 is contained in table T7.9 of Inland Revenue Statistics. The latest version is on the Inland Revenue website; http://www. inlandreven ue.gov.uk/ stats/pensions/p_t09_1.htm
§ Mr DrewTo ask the Chancellor of the Exchequer what percentage of total government revenue is represented by the total public sector pension obligation. [92072]
§ Mr. BoatengExpenditure on unfunded public service pensions, net of employee contributions, is estimated to total about £13.2 billion in 2002–03. Annual government revenue for 2002–03 is estimated at £400 billion (Table B12 of November 2002 pre-Budget Report, Cm 5664). Funded public sector pensions are paid from the particular pension fund and information on the totals of those payments and the related pension fund receipts is not held centrally.