HC Deb 15 November 1948 vol 458 c14W
Mr. D. Jones

asked the Chancellor of the Exchequer by what sum he estimates it would be necessary to increase the Income Tax, assuming existing conditions as to allowances and exemptions, to obtain the additional amount of £60 million, estimated to be required to raise the present old age and contributory pensions from the present level to £2 per person per week.

Sir S. Cripps

About 5d. My hon. Friend will not have overlooked the fact that the sum which he mentions would not be sufficient, even initially, unless national insurance contributions were also very substantially increased.