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answer › question first answered	2017-04-05T11:09:19.067Z
hansard heading	Pensions: Tax Allowances

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registered interest

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answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


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question text

tabling member printed

uin

answer

is ministerial correction

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answer text

answering member printed

question first answered

answering member


label

attachment


file name
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tabling member


label

713677

registered interest

date

23/03/2017

answering body

HM Treasury

answering dept id

answering dept short name

Treasury

answering dept sort name

CaTreasury

hansard heading

Pensions: Tax Allowances

house id

legislature

25277

	pref label	House of Lords

question text

To ask Her Majesty’s Government what estimate they have made of the savings to HM Treasury in terms of tax relief which would be gained if the annual allowance for pension contributions were reduced from £40,000 a year to (a) £30,000 a year, (2) £25,000 a year, and (3) £20,000 a year.

tabling member printed

Baroness Altmann

uin

HL6274

answer

is ministerial correction

date of answer

05/04/2017

answer text

The impacts of reducing the Annual Allowance from £40,000 a year would depend upon a number of factors including earnings growth and behavioural response to the policy change. A costings note for the reduction of the Annual Allowance from £50,000 to £40,000 and the Lifetime Allowance from £1.5 million to £1.25 million was published at Autumn Statement 2012[1]. [1] This policy costings document was published alongside Autumn Statement 2012<a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/221551/as2012_policy_costings.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/221551/as2012_policy_costings.pdf</a>

answering member printed

Baroness Neville-Rolfe

question first answered

05/04/2017 11:09:19

answering member

4284

	label	Biography information for Baroness Neville-Rolfe

attachment

1

	file name	as2012_policy_costings.pdf
	title	policy costings

tabling member

4533

	label	Biography information for Baroness Altmann