HC Deb 09 May 2002 vol 385 cc338-9W
21. Mr. Todd

To ask the Chancellor of the Exchequer if he will make a statement on recent fiscal measures he has taken to encourage pension provision. [53563]

Dawn Primarolo

The Government are introducing pension credit from 2003, at a cost of £2 billion in the first full year. The pension credit will reward those pensioners who have modest incomes from second pensions or savings. In addition from 2003–04 the age-related personal tax allowances will be increased to ensure that no pensioner aged 65 or over will pay tax on income of less than £127 a week.

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