To ask the Chancellor of the Exchequer (1) if he will estimate the full-year yield in 1993–94 of taxing employers' pension contributions in excess of (a) £7,000, (b) £10,000, (c) £15,000 and (d) £20,000 per year as a benefit in kind;(2) what is his estimate of the cost of tax relief for employers' contributions to occupational pension schemes and personal pension schemes in 1992–93 and 1993–94 for the top 1 per cent. of taxpayers; how many taxpayers are in receipt of contributions; and what is the average contribution;(3) what is his estimate of the cost of direct income tax relief for occupational pension schemes and personal pension schemes in force in 1991–92, 1992–93 and 1993–94 for
(a) higher rate taxpayers and (b) basic rate taxpayers;
Higher rate taxpayers
| Basic or lower rate taxpayers
| |||||
Cost of relief
| Number of taxpayers with relief
| Average income of taxpayers with relief
| Cost of relief
| Number of taxpayers with relief
| Average income of taxpayers with relief
| |
£ million
| million
| £
| £ million
| million
| £
| |
1991–92
| ||||||
| MIRAS | 800 | 1·1 | 53,000 | 4,560 | 7·2 | 16,000 |
| Employees contributions to occupational pension schemes | 610 | 0·7 | 45,000 | 1,650 | 7·7 | 15,000 |
| Contributions to personal pension schemes | 470 | 0·3 | 58,000 | 560 | 2·9 | 13,000 |
| Other reliefs | 400 | 0·5 | 61,000 | 270 | 2·7 | 15,000 |
1992–93
| ||||||
| MIRAS | 710 | 1·1 | 53,000 | 3,860 | 7·3 | 16,000 |
| Employees contributions to occupational pension schemes | 660 | 0·7 | 45,000 | 1,590 | 7·4 | 16,000 |
| Contributions to personal pension schemes | 440 | 0·3 | 58,000 | 550 | 2·8 | 13,000 |
| Other reliefs | 400 | 0·5 | 62,000 | 280 | 2·6 | 14,000 |
1993–94
| ||||||
| MIRAS | 620 | 1·2 | 52,000 | 3,210 | 7·4 | 16,000 |
| Employees contributions to occupational pension schemes | 720 | 0·8 | 45,000 | 1,650 | 7·2 | 16,000 |
| Contributions to personal pension schemes | 440 | 0·3 | 58,000 | 560 | 2·8 | 14,000 |
| Other reliefs | 410 | 0·5 | 61,000 | 280 | 2·6 | 14,000 |