§ 44. Dame Irene Wardasked the Chancellor of the Exchequer whether he is aware that many elderly people living on small fixed incomes are spending their savings to meet the present cost of living; and, in view of his desire to encourage saving, what steps he proposes to take to give these people an equal chance with those who have money to save to take advantage of the incentives to save.
§ Sir E. BoyleMy right hon. Friend is very conscious of the difficulties which many such people are experiencing and we have included in successive Budgets specific measures to help them. The best way to help them, however, is to safeguard the stability of the national economy, and that is the main object of our present economic policy.
§ Dame Irene WardIs my right hon. Friend aware that that does not answer my Question? Could he give me a specific answer how people who are now spending from savings are to get savings in order to gain the incentive which present-day savers can get? Is he aware that the whole treatment of small-income groups in the past is monstrous? When is he going to take some action about it?
§ Sir E. BoyleI feared that my hon. Friend would be at me with her hammers.
§ Dame Irene WardJolly good ones.
§ Sir E. BoyleThe Government have twice done something for people with small investment incomes and have also raised the income limit for small-income relief. Safeguarding the stability of the economy is the best service we can render them.
§ Mr. JayIs the Economic Secretary aware that he is not answering any question at all? As it is due to Government policy that the cost of living is rising, will he not give a satisfactory answer to the hon. Lady behind him?
§ Sir E. BoyleI thought I gave very satisfactory details.
§ Dame Irene WardOn a point of order, Mr. Speaker. May I ask for your guidance as to how I can give notice to raise this matter on the Adjournment, as it includes legislation and we are not allowed to discuss legislation on the Adjournment?
§ Mr. SpeakerThe hon. Lady can give such a notice, but if the matter does include legislation her notice would be ineffective.