Retirement Pensions (Hansard, 19 March 1956)

§ 19. Mr. H. Hynd
asked the Minister of Pensions and National Insurance the difference between the purchasing power of the retirement pension of today and that of October, 1951.

§ Mr. Boyd-Carpenter
On the basis of the Interim Index of Retail Prices, the purchasing power of the retirement pension is 4s. 3d. more than that of most retirement pensions in October, 1951, and 9s. more than that of some of them.

§ Mr. Hynd
The Minister keeps saying "on the basis of the Interim Index of Retail Prices." But on the actual spending power of those people concerned, does he believe that those figures still hold good?

§ Mr. Boyd-Carpenter
Yes, the Interim Index of Retail Prices is the best available instrument for measuring these changes over the years, and has been so accepted by Governments of both parties.

§ Mr. J. Griffiths
In view of the announcement made last week by the Minister of Labour and National Service about a new cost-of-living index, is the right hon. Gentleman considering with his right hon. Friend the recommendations made by the Phillips Committee that there should be a special index for the classes of person who are beneficiaries under his Ministry?

§ Mr. Boyd-Carpenter
The right hon. Gentleman will appreciate that the publication of indices of this kind is within the responsibility of my right hon. Friend the Minister of Labour and National Service, and not mine.

§ Mr. Griffiths
I agree, but may I again ask the right hon. Gentleman if he will consider with his right hon. Friend whether the time is not appropriate, in view of this new proposal, to consider implementing the proposal made by the Phillips Committee which was definitely directed to those who are beneficiaries under the Ministry of Pensions and National Insurance?

§ Mr. Boyd-Carpenter
The right hon. Gentleman will recall that the Cost of Living Advisory Committee recommended in a contrary sense against the publication of more than one monthly index, which view was accepted by the late Government. I am always in touch with my right hon. Friend. The question of the publication of indices is for him and not for me.