§ 89. Mr. LYLEasked the Financial Secretary to the Treasury if, taking the present number of old age pensioners, he will state the cost to the State of fixing the maximum of £50 as the amount of income which these pensioners might enjoy without any reduction in their weekly allowance of 10s.?
Mr. YOUNGI would remind the hon. Member that, subject to certain conditions, Old Age Pensions are at present payable to persons whose means as calculated under the Old Age Pensions Acts do not exceed £49 17s. 6d. a year. As my right hon. Friend the Chancellor of the Exchequer informed my hon. Friend in reply to his question of the 23rd ultimo, the extra cost of paying Old Age Pensions of 10s. per week to all existing pensioners would be about £753,000 a year for the United Kingdom.