§ 34. Mr. Burdenasked the Minister of Social Security what was the value in real terms of retirement pensions on 1st January 1967; how this compares with 1st June, 1966; and what she estimates would be the cost of restoring the pension to the purchasing value it had at the date of the last increase.
§ Miss HerbisonOn the basis of the Index of Retail Prices for December, 1966 it would require the addition of 1s. to the single rate of pension and 1s. 8d. to that for a couple to restore the values of June, 1966. To restore the values which pensions had in March, 1965, when the last increases were made, would cost about £95 million a year, with a further £40 million a year for corresponding increases in other National Insurance benefits.