§ Mr. Johnasked the Secretary of State for Social Services if he will provide estimates, at 1984–85 prices, of projected expenditure on the state earnings-related pension scheme in 1995 to 1996, 2005 to 2006, 2023 to 2024 and 2033 to 2034 if the proposals in the social security Green Paper are implemented.
§ Mr. Newton[Pursuant to his reply, 17 June 1985, c. 49]: Expenditure on an unchanged state earnings-related pension scheme would rise from about £1.6 billion in 1995 to £23 billion in 2033. If changes proposed in the Green Paper are implemented, savings will start to be made after 2002. The cost of the scheme is expected to be reduced by about half by 2023 and by about three-quarters by 2034. More precise figures will not be available until the proposals have been finalised in the light of consultations.