§ Lord Houghton of Sowerby
asked Her Majesty's Government:
What is the present value of the £10 Christmas bonus compared with its original nominal value and what is the estimated cost of administering this benefit.
§ The Parliamentary Under-Secretary of State, Department of Social Security (Lord Henley)
The value of the £10 Christmas bonus at December 1989 prices is £1.89, taking account of movement in prices since it was first paid in December 1972. I regret that records are not kept which allow us to estimate the current administrative cost of the bonus. The administrative cost of paying the Christmas bonus in 1981 was estimated at £2 million.