§ Mr. Barry FieldTo ask the Chancellor of the Exchequer what estimate he has made of the reduction in the payments of index-linked public sector pensions from each percentage point drop in inflation. [4883]
§ Mr. WaldegraveInformation on the whole public sector is not available as this information is not held centrally. However, expenditure in the main public service schemes, paid out of voted estimates, covering the armed forces, civil servants, teachers, NHS workers and pensions arising from service overseas, is available. It has been392W calculated that a 1 per cent. drop in inflation would result in a reduction in the region of £86 million in pensions expenditure based on the 1996–97 voted estimates.