HC Deb 13 February 1976 vol 905 cc403-4W
Mr. Nott

asked the Chancellor of the Exchequer if he will publish an analysis of current grants by the public sector distinguishing between those components which are uprated automatically by indexing to prices, wages, or some other aggregate, and those whose levels are adjusted on a purely discretionary basis, for the years 1955, 1960, 1965, 1970 and 1974; and if he will indicate in each case the specific economic aggregate to which any indexing is made.

Mr. Joel Barnett

No current grants are adjusted automatically in line with prices or earnings indices, though in the case of social security benefits Section 125 of the 1975 Social Security Act, which re-enacted the provisions of the 1973 Act, lays down the obligation that upratings should be no more than 12 months apart and that long-term benefits be updated in line with earnings, or prices if this is more favourable, and short-term benefits in line with prices.