asked the Minister for Finance in respect of tax years 1985-86, 1986-87, 1987-88 and 1988-89 the estimated cost to the Exchequer of tax relief on (i) loan interest (ii) medical insurance (iii) life assurance (iv) health expenses (v) permanent health insurance and (vi) covenants.
Written Answers. - Tax Relief Cost.
66.
The following table sets out the information requested in so far as it is available:
Cost to Exchequer
|
Allowance or relief |
1985-86 |
1986-87 |
1987-88 |
1988-89 |
|
£ million |
£ million |
£ million |
£ million |
|
|
(Provisional) |
(Provisional) |
(Provisional) |
||
|
(i) Loan interest |
146.2 |
150.6 |
151.6 |
155.0 |
|
(ii) Medical insurance (VHI) |
30.9 |
35.6 |
41.4 |
41.8 |
|
(iii) Life assurance |
29.0 |
32.2 |
37.5 |
42.2 |
|
(iv) Health expenses |
1.6 |
2.2 |
2.4 |
Not available |
|
(1985) |
(1986) |
(1987) |
||
|
(v) Permanent health insurance |
0.26 |
0.75 |
0.8 |
Not available |
|
(vi) Convenants |
3.9 |
7.0 |
9.6 |
Not available |
Notes
(i) The estimates supplied in the table are in respect of the relevant income tax year except in the case of health expenses which are in respect of the period of 12 months beginning on 1 January in each year.
(ii) The cost figures shown for permanent health insurance represent net costs after taking into account the tax payable on benefits.