The Earl of Dalkeithasked the Chancellor of the Exchequer what were the average annual percentage increases in the cost of living, average industrial earnings, and retirement pensions, respectively, during the five-year periods 1946–51 and 1958–63.
§ Mr. GreenThe figures are as follows:
AVERAGE ANNUAL PERCENTAGE INCREASE 1946–51 1958–63 Retail prices* 4.5 2.2 Industrial earnings† 6.8 5.2 * Based on the Interim Index of Retail Prices for 1946–51 and on the Retail Price Index for 1958–63. † Average weekly earnings of adult male manual workers in the industries covered by the Ministry of Labour's half yearly inquiries. Retirement pensions increased from October, 1946, to October, 1951, by 15½ per cent. for a single person and by 19 per cent. for a married couple. The corresponding increases from the end of January, 1958, to May, 1963, were 35 per cent. (single) and 36½ per cent. (married couple). As increases in pension rates are made at irregular intervals it would not be appropriate to convert these figures to average annual rates.