HC Deb 14 December 1922 vol 159 cc3150-1
79. Sir A. HOLBROOK

asked the Chancellor of the Exchequer whether he will consider an amendment of the present Regulations as to old age pensions by a provision that the benefit payments to members of friendly and other thrift societies shall not be regarded when considering the assessment of old age pensions to persons over the age of 70 years?

Mr. BALDWIN

I would refer my hon. Friend to the answer given by the Prime Minister to the hon. Member for Peebles (Mr. Westwood) on the 4th December.

Mr. LANSBURY

May I ask if earnings and other income are taken into account when assessing and paying pensions to ex-Cabinet Ministers and Lord High Chancellors?

Mr. BALDWIN

I should want notice of that.

85. Mr. D. SOMERVILLE

asked the Chancellor of the Exchequer whether any representations have been made to him with regard to the inadequacy of the pension to blind persons; whether he will consider the possibility of making a slight increase in it; and, in that case, if he will give the House some idea as to how much this would cost?

Mr. BALDWIN

The Act of 1920 rendered blind persons eligible for the ordinary pensions under the Old Age Pensions Acts, 1908 to 1919, at the age of 50 instead of 70, and I do not feel able to alter this provision.

92. Dr. J. WILLIAMS

asked the Chancellor of the Exchequer whether he will consider the case of the old age pensioners being assessed justly according to the amount of interest they receive in the Post Office Savings Bank instead of being credited with receiving 5 per cent.?

Mr. BALDWIN

It would not be equitable to assess old age pensioners means as if they were a permanent investment for all time. Under the existing statutory provisions the first £25 of capital is ignored, the next £375 is assessed at 5 per cent., and any excess over £400 at 10 per cent. These terms compare extremely favourably with the value of a life annuity at 70, and I am not prepared to alter them.

Mr. MARDY JONES

Will the right hon. Gentleman consider the reasonableness of not assessing old age pensioners at all for Income Tax?