§ 49. Commander Sir Archibald Southbyasked the Chancellor of the Exchequer whether he is aware of the hardships which increased taxation and the increased cost of living have occasioned to retired civil servants living on fixed pensions; and whether, in view of the recent increases in pay and allowances to members of the Forces and others, he will reconsider the case of these pensioners?
§ Sir K. WoodI would refer my hon. Friend to the answer which I gave on 10th
| Treasury Deposit Receipts. | |||
| Year to 30 June 1941. £ millions. | Year to 30 June 1942. £ millions. | Period. 1 July—5 Dec. 1942. £ millions. | |
| Amount lent | 973 | 1,519 | 787 |
| Amount paid off on maturity | 312 | 1,024 | 352 |
| *Amounts repaid to cover subscriptions to: | |||
| 2½ per cent. National War Bonds | 113 | 200 | 56 |
| 3 per cent. Savings Bonds | 28 | 77 | 22 |
| Post Office Issues (various) | — | 10 | 1 |
| Tax Reserve Certificates (1 per cent.) | — | 136 | 35 |
| Total amount of interest paid on Treasury | £ | £ | £ |
| Deposit Receipts at 1⅛ per cent. | 2,056,000 | 7,055,000 | 2,366,000 |
| * The allocation of the amounts repaid between the different classes of war loans is approximate. The subscriptions include both those on the banks own account also those on behalf of their customers. |
§ December to my hon. Friend the Member for Lincoln (Mr. Liddall) [OFFICIAL REPORT, Vol. 385, cols. 1718–9].
§ Sir A. SouthbyWill my right hon. Friend bear in mind the feelings of these people who have given good service to the State when they see, on grounds of the increased cost of living, increases in pay and wages granted in other directions, while they are suffering great inconvenience and hardship?
§ Admiral of the Fleet Sir Roger KeyesWill the Chancellor also consider the case of Service pensioners who after the last war were given a pension based on the cost of living, that the pension was lowered as the cost of living decreased, and that finally it was stabilised when the cost of living was 40 per cent. less than it is to-day?