§ I now turn to two matters which are certainly not minor, but which do not belong to my major taxation proposals either. First, pensions. As the House knows, there is to be an uprating of social security benefits in the autumn. I am now able to announce that, as from early November, the basic single person pension rate will be increased by 10s. from £4 10s. 0d. a week to £5. The rate for a married couple will go up by 16s. from £7 6s. 0d. to £8 2s. 0d., and corresponding increases will be made in the other rates, which will be announced later. This increase will restore the value of the pension to a level some 20 per cent. higher in real terms than when this Government took office.
§ All this has to be paid for. The cost to the National Insurance Funds of the increase will be about £250 million in a full year, but substantial extra provision will have to be made on top of this, to take account both of the existing imbalance between income and expenditure of the main National Insurance Fund, and of the continuing increase in the number of pensioners in relation to the working population. We will ensure that the burden of the increase is distributed as fairly as possible amongst contributors.
§ The Government have also decided to make certain changes—[Interruption.] My right hon. Friend will answer. [HON. MEMBERS: "Oh."]
§ Mr. Deputy Speaker (Mr. Harry Gourlay)Order. I am sure that the 1015 House would like to hear the rest of the speech.
Mr. JenkinsI am sure that right hon. Gentlemen opposite will recognise that I have no desire to hide behind my right hon. Friend. I indicated that we will ensure that the burden of increases is distributed as fairly as possible amongst contributors. This means that the matter must be worked out and laid before the House in a Bill.