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Self-Employed Persons

Volume 927: debated on Wednesday 2 March 1977

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asked the Chancellor of the Exchequer what would be the cost in loss of revenue of increasing to 30 per cent. the earnings limit for self-employed pension contributions.

pursuant to his reply [Official Report, 14th February 1977; Vol. 926, c. 96], gave the following information:The cost would depend on the extent to which the increase in the limit was taken up, but assuming that the 30 per cent. limit was applied in conjunction with the present income limit of £15,000 and that all those presently getting relief took full advantage of the increase, the additional cost could be up to £100 million.