§ 42. Mr. T. SMITH
asked the Chancellor of the Exchequer whether, in view of the high percentage of 5 per cent. up to a certain figure and 10 per cent. over that figure, which is taken as a basis of calculation of the annual value of any property owned by an applicant for an old age pension, he will consider the desirability of amending the law by reducing the percentage and by increasing that part of the capital value, namely £25, which is not taken into account?
I would refer the hon. Member to the reply which the then Financial Secretary gave on the 22nd February, 1934, to a question asked by my hon. Friend the Member for East Dorset (Mr. Hall-Caine), of which I am sending him a copy.