§ 47. Mr. CHARLES EDWARDS
asked the Prime Minister whether, seeing that there are many persons engaged in industry over 60 years of age and that it is estimated that even in normal times we shall have to make provision to maintain at least 800,000 out of the Unemployment Insurance Fund, he will introduce legislation to make it legal to apply this, together with the Old Age Pension Fund, to those over 60 years of age so that they may be withdrawn from industry and consequently provide work for the younger generation?
§ The PRIME MINISTER
No, Sir. Without necessarily accepting the figures suggested by the hon. Member, I would point out that the present resources of the Unemployment Insurance Fund and the Contributory Pensions Scheme would be wholly insufficient to provide for a reduction of the pension age to 60. Such an extension of the present pension liability would involve an increase in the contributions of both the insured persons and their employers, while it would add heavily to the burdens of the taxpayer. I may also point out to the hon. Member that the recipient of a pension under the Contributory Pensions Act is not debarred from employment, and that the results which he appears to expect from a reduction of the pension age would consequently not be attained.