§ Mr. Woodall
asked the Chancellor of the Exchequer (1) what is the cost of the present tax concession on luncheon vouchers;
(2) what is the present concession for tax purposes in respect of luncheon vouchers; and what is the amount to which it would need to be increased in order to restore it in real terms to the original value established in 1948.
§ Mr. Robert Sheldon
By extra statutory concession the first 15p of the value of a meal voucher is not subject to tax. The cost of this concession is about £13 million a year. On the basis of the change in the retail price index, the present equivalent in real terms of 12½p at the time the concession was introduced in 1948 is 65p.