§ Lieut.-Colonel POWNALLasked the Chancellor of the Exchequer what has been the figure for the cost-of-living bonus taken for the purposes of the Budget; and what will be the saving effected during the current financial year for every five points of decrease shown at the next periodical reassessment?
§ Sir R. HORNEThe total provision in the Civil Services and Revenue Departments Estimates for bonus is about £27,000,000 out of a total Budget expenditure of £910,000,000. This provision is on the basis of an average figure of 100 for the whole financial year. The figure for the first five months is 105. The exact average for the year 1922–23 depends on (a) the figure fixed for the six months 1st September, 1922, to 28th February, 1923, 2029W and (b) the figure fixed for the month of March, 1923. If it be assumed that these two figures will both be 85, the average for the year would be 93⅓, and the saving as compared with the Estimate would be approximately £1,800,000.
§ Mr. G. LOCKER-LAMPSONasked the Financial Secretary to the Treasury (1) what is the total amount of bonus now payable to the Civil Service and Revenue Departments; (2) what proportion of the total bonus of the Civil Service is represented by a decrease of 10 points in the cost of living?
Mr. YOUNGThe bonus now payable in the Civil Service and Revenue Department is at the rate of approximately £28,000,000 a year. The current rate is based on a cost of living figure of 105 and is subject to revision on the 1st September next on the basis of the average cost of living figure for the preceding six months. The total provision made in the Civil Service and Revenue Department Estimates for 1922–23 is £27,000,000 on the assumption that the average cost of living figure for the whole year may be 100. If the average figure for the whole year showed a decrease of 10 points, the saving would be £2,700,000.