§ Mr. Arthur Lewis
asked the Secretary of State for Social Services in view of the increase in the cost of living caused by the floating of the £ sterling, why he will not take action to increase the 75p due to pensioners in the autumn and bring this payment forward to July.
§ Sir K. Joseph
It is too soon to say what effect the decision to float the £ will have on prices. The effect in the immediate future is likely to be small, and I remain confident that the October increase in pensions will be sufficient not only to cover any price rise before then but also to give some margin of real improvement as well.