asked the Chancellor of the Exchequer if he will make a statement about the likely cost to the Exchequer over the next five years of extra tax concessions to pension funds that will result from the proposals for the phasing out of the state earnings-related pension scheme.
No, in so far as the last apocalyptic aspects of the hon. Gentleman's questions are concerned, that is not accurate. He is right to remind us of what my right hon. Friend the Secretary of State for Social Services said on 19 June in the Select Committee on Social Services, when he estimated that the proposals could reduce tax revenues by somewhere in the region of £300 million.