§ Lord Balnielasked the Minister of Pensions and National Insurance if he will compare the increases in the rates of retirement pension with the increases in average earnings and in prices between October, 1946, and October, 1951, and October, 1951, and October, 1963, respectively.
§ Mr. WoodThe comparison is set out in the following table:
clothing, heat, light and fuel, and transport, between October, 1946, and October, 1951, and October, 1951, and October, 1963, respectively.
§ Mrs. ThatcherThe earliest date from which a comparison can be made is June, 53W 1947, when the Interim Index of Retail Prices was introduced; and I regret that comparable figures are not available for
INCREASE IN RETIREMENT PENSIONS AND AVERAGE EARNINGS, AND IN THE PRICES OF CERTAIN GOODS AND SERVICES, BETWEEN JUNE, 1947, AND OCTOBER, 1951, AND BETWEEN OCTOBER. 1951 AND OCTOBER, 1963, RESPECTIVELY Percent. Period Standard rate of retirement pension Average earnings (men)* Retail Prices† Single person Married couple All items Food Clothing and footwear Fuel and light June, 1947October, 1951 15 19 37 29 43 45 30 October 1951 October, 1963 125 118 102 45 52 11 89 * On the basis of the Ministry of Labour's half-yearly inquiries into the average earnings of manual workers in manufacturing and some of the principal non-manufacturing industries. † On the basis of the Retail Prices Index and the Interim Index of Retail Prices which preceded it.