§ 61. Sir J. NORTON-GRIFFITHSasked the Chancellor of the Exchequer whether he has considered that part of the Economy Committee's Report which suggests that the pension and like obligations of the State should be placed on a funded basis; if so, whether his conclusions are that such an alteration would result in a saving to the public purse; if he has not yet decided his course with regard to the Budget, whether he thinks that an inquiry into the practicability of such recommendation would be desirable; whether he would invite the opinions of leading financial or actuarial experts on the matter; and, having regard to the interest which the public is taking in the suggestion that pensions should be funded, he will inform the House of the results of his inquiry if such should take place?
§ Sir R. HORNEI would remind my hon. and gallant Friend that the conclusion of the Committee on National Expenditure in regard to this question was that it was outside its terms of reference because it involved considerations of Budget policy. In these circumstances, I must ask to be excused from making any statement on it at present.
§ Sir J. NORTON-GRIFFITHSWill the right hon. Gentleman give it consideration; and is he aware it would help him to reduce the. Income Tax, and that unless the Income Tax is reduced he will not come back to the House?
§ Sir R. HORNEI am considering it very carefully.