§ Mr. Neubertasked the Chancellor of the Exchequer what is the estimated cost to the Exchequer of an increase of 1 per cent. in the retail price index in respect of 24W statutory index-linked benefits and other obligations.
§ Mr. BiffenAt current rates the increase in public expenditure or reduction in revenue following an increase of 1 per cent. in the RPI for benefits and other obligations where the increase is or will be linked to the index by statutory provision is estimated to be
Pensions and other benefits £145 million Income tax allowances and bands £150 million It would not be possible without disproportionate effort to estimate the effect on payments which are not statutorily protected.