§ Mr. Tinkerasked the Financial Secretary to the Treasury what the cost would be to the Treasury if the 10s. a week old age pension was increased to £1 per week?
§ Lieut.-Colonel ColvilleThe additional cost involved in doubling old age pensions (including widows' pensions where the widow is over 65 but not widows' pensions where the widow is under 65 or orphans' pensions) would be £71,000,000 a year.
The working out of contributions to meet the cost of each particular extension of contributory pensions involves considerable labour. Perhaps it will give the hon. Member sufficient indication if I repeat the figures I gave in the Debate on 1st December last for the division between the Treasury and contributors of the cost of a scheme costing £75,000,000 extra at the present time. If the cost imposed upon the contributors under that scheme had been based on the value of the additional benefits conferred on an entrant into industry at 16, then of the total cost of £75,000,000, £34,000,000 would have fallen on the contributors and £41,000,000 on the Treasury.