§ Baroness Barkerasked Her Majesty's Government:
What would be the value of the Christmas bonus paid to pensioners if it had been uprated annually since introduction by (a) prices, (b) earnings and (c) the higher of prices or earnings; and how much it would cost to uprate it to these levels. [HL1224]
§ The Parliamentary Under-Secretary of State, Department of Social Security (Baroness Hollis of Heigham)The information is in the table.
Christmas bonus annually uprated by Value Additional cost Prices £77.35 £927m Earnings £120.30 £1,517m The higher of prices or earnings £128.15 £1,625m Notes:
1. Values are for the year 2000–01 ie bonus payable at Christmas 2000.
2. The Retail Prices Index (all items) has been used, as published by the Office for National Statistics.
3. Average Earnings Index Whole Economy (Non-Seasonally Adjusted) has been used, as published by the Office for National Statistics.
4. Values arc rounded to the nearest 5 pence at each uprating date.
5. Costs arc rounded to the nearest £ million and are in 2000–01 prices.
§ Baroness Barkerasked Her Majesty's Government:
How much was spent on the Christmas bonus for pensioners in 1999. [HL1225]
§ Baroness Hollis of HeighamThe estimated total expenditure on the Christman Bonus in 1999 was £137 million.
Notes:
1. Figures are consistent with projections of DSS Annually Managed Expenditure published in the November 1999 Pre-Budget Report.
2. Expenditure rounded to the nearest £ million.
3. Christmas bonus is paid to people who meet the qualifying conditions, including people under State pension age.