HC Deb 04 May 1959 vol 605 c12W
76. Mr. Lewis

asked the Minister of Pensions and National Insurance by how much he estimates that individual retirement pensions could be increased at an additional annual expenditure of £1,160 million and £1,416 million, respectively.

Mr. Boyd-Carpenter

It is estimated that, assuming proportionate increases for wives and dependants, an additional annual expenditure of £1,160 million would finance an increase in the standard rate of retirement pension of about £4 10s. a week initially falling to about £3 in twenty years' time; and that an additional annual expenditure of £1,416 million would finance an increase of about £5 10s. a week initially falling to about £3 15s. a week in twenty years' time. This assumes no increase in the other benefits of the National Insurance Scheme.