§ 46. Mr. SALT (for Mr. SMEDLEY CROOKE)asked the Prime Minister whether, in view of the report of the Royal Commission on Unemployment Insurance, he will now consider the advisability of setting up a joint committee of both Houses of Parliament to inquire into the possibilities of an all-in insurance scheme on a contributory basis with adequate pensions at 60 years of age, conditionally that they retire from industry and so make room for the younger men who are unemployed?
§ The PRIME MINISTERMy hon. Friend is aware that there is no contributory fund in existence from which the pensions he suggests could be paid. A scheme such as he has in mind would involve a serious increase of contributions by employers and work-people and even so could only be brought into immediate operation at very heavy cost to the Exchequer. If, on the other hand, benefits were deferred until the beneficiaries, aided by a moderate State subvention, have paid sufficient contributions to cover the cost of their pensions, the objects of the scheme could not be achieved for many years to come. In the circumstances, I do not think that a Joint Committee of both Houses of Parliament, as my hon. Friend suggests, could serve any useful purpose.
§ Mr. LANSBURYIn view of the fact that many large firms are embarking on schemes of their own, would it not be possible to get together, not a big corn-mission but a small body of men, to investigate whether it would not be possible to pool all this business? An all-in insurance would cover everything.
§ The PRIME MINISTERThe right hon. Gentleman will observe that I have only answered the actual question on the Paper. I have not gone outside that. I can assure him that the question has not been lost sight of and is not being lost sight of.
§ Mr. COCKSWill the Prime Minister, in making his calculations, take into consideration the saving in unemployment benefit?
§ The PRIME MINISTERAll calculations have been taken into account.