Written question asked by Lord Taylor of Goss Moor (Liberal Democrat) on Wednesday, 8 January 2003, in the House of Commons. It was due for an answer on Wednesday, 15 January 2003. It was answered by Baroness Primarolo (Labour) on Wednesday, 15 January 2003 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if he will estimate the revenue yield of abolishing taper relief for financial years 2003-04 and 2004-05 and reintroducing indexation and retirement relief; and if he will make a statement. - Includes figure.

Answer: Matthew Taylor:: To ask the Chancellor of the Exchequer if he will estimate the revenue yield of abolishing taper relief for financial years 2003-04 and 2004-05 and reintroducing indexation and retirement relief; and if he will make a statement. [90174] Dawn Primarolo: Consistent with the assumptions of the November 2002 Pre-Budget Report forecast, the full year yield in 2003-04 from re-introducing indexation and retirement relief and abolishing taper relief is estimated to be £200 million. Information for 2004-05 is available only at disproportionate cost.

Secondary information