Speeches

Owen Smith – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Owen Smith on 2015-11-06.

To ask Mr Chancellor of the Exchequer, what estimate he has made of the change in tax revenue as a result of the introduction of new pension freedoms.

Harriett Baldwin

The expected impact over the forecast period of the changes made to private pensions taxation as announced at Budget 2014 can be found in Table 2.1 (p.56) of the Budget 2014 document here:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293759/37630_Budget_2014_Web_Accessible.pdf

Following a consultation period the Chancellor made subsequent announcements relating to this measure. The Exchequer impact of these can be found in Table 2.1 (p.65) of the Autumn Statement 2014 document here:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/382327/44695_Accessible.pdf