§ 13. Sir Michael NeubertTo ask the Secretary of State for Social Security what is the estimated proportion of pensioners who own their own homes.
§ Mr. NewtonIn 1988, 49 per cent. of pensioners owned their own homes.
§ Sir Michael NeubertIs that not encouraging evidence of the extent to which pensioners are sharing in the advance towards greater independence and higher living standards? Is there not an extra benefit for those fortunate enough to own their own homes in that a state pension related to the retail prices index, which includes housing costs, contains a concealed bonus for them?
§ Mr. NewtonMy hon. Friend is certainly right to believe that it is an advantage and evidence of the success of our policies that a growing number of pensioners have the extra independence that owning their own homes can bring. That trend is also reflected in the ownership of many other things, including telephones, central heating and cars, for which the increase between 1979 and 1988 has been quite dramatic.