HL Deb 20 November 2000 vol 619 cc56-7WA
Lord Higgins

asked Her Majesty's Government:

What effect the Chancellor of the Exchequer's proposal in his autumn statement to repay public debt will have on annuity rates. [HL4594]

Lord McIntosh of Haringey

The paying down of a proportion of public debt, in keeping with the Government's published fiscal objectives, will help promote greater economic stability and release resources to the private sector. It will also help maintain the real value of nominal annuities and the income of annuity holders.