§ 75. Mr. Llewellynasked the Minister of National Insurance by how much the basic old age pension would have to be increased in order to offset the rise in the cost of living since 4th October, 1946; and what would be the total cost of this increase.
§ Dr. SummerskillThe official index of retail prices has risen by about 13 points since the new index was introduced in June, 1947. The previous index had shown no change between that date and October, 1946. If the rates of retirement pensions were raised correspondingly,106W expenditure would be increased by about £33 million a year at the present time, increasing in future years. This would involve corresponding increases in contributions.