HC Deb 03 December 1934 vol 295 cc1240-1W
Captain ERSKINE-BOLST

asked the Chancellor of the Exchequer whether he will give an estimate of how much pensions at 60 would cost, assuming that the amount of public assistance which would otherwise be granted in such cases is taken into consideration?

Mr. CHAMBERLAIN

My hon. and gallant Friend does not give details of the scheme he has in mind. If the age at which contributory pensions are granted were reduced from 65 to 60 it is estimated that the present cost of such pensions, namely, about £19,000,000 a year, would be increased by about £29,500,000 to about £48,500,000 a year. It is not possible to estimate the savings which would result on unemployment assistance and public assistance.