§ Viscount BROOKEBOROUGHasked Her Majesty's Government:
Whether, in view of their policy outlined in the Budget to produce a rise in unemployment, they will consider reducing the age for paying retirement pension from 65 to 63 since pensions cost less than unemployment benefit, and, if granted, might result in providing more opportunities for school leavers.
§ Lord WELLS-PESTELLWithout accepting the noble Lord's description of the Budget policy, I must point out that a reduction in the minimum pension age for men to 63 would cost about £515 million a year at present rates, and the Government have no proposals to this effect.