Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the level of funding allocated to the married couples allowance in each year up to 2025.
There is no specific funding allocated to this relief, anyone who is eligible for Married Couples Allowance will receive it if they apply.
HMRC publishes the estimated cost of the Married Couples Allowance (MCA) for the years up to the current tax year in their “Estimated costs of principal tax reliefs” publication, available here:
https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs
The estimated cost of the MCA is:
£m | |||||
2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 |
345 | 330 | 290 | 240 | 195 | 165 |
Estimated costs beyond 2018-19 have been modelled based on projections using economic assumptions consistent with the Office for Budget Responsibility’s October 2018 Economic and Fiscal Outlook. These extend as far as the tax year 2023-24, so this is the final year for which figures are provided.
£m | ||||
2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
130 | 105 | 85 | 65 | 55 |
All estimates are based on the 2015-16 Survey of Personal Incomes projected using economic assumptions consistent with the OBR’s October 2018 Economic and Fiscal Outlook.