§ 33. Mr. Eadieasked the Chancellor of the Exchequer if he will seek to raise enough revenue in his next budget to permit increases in retirement pensions.
§ Mr. Patrick JenkinMy right hon. Friend the Secretary of State for Social Services has already said that there will be a review and uprating of retirement pensions later this year. These pensions are financed mainly from contributions.
§ 56. Miss Lestorasked the Chancellor of the Exchequer if, in his forthcoming Budget, he will give increased retirement pensions priority over tax cuts.
§ Mr. Patrick JenkinMy right hon. Friend, the Secretary of State for Social Services, has already said that there will be a review and uprating of retirement pensions later this year. For the rest I cannot anticipate my right hon. Friend's Budget statement.
§ 57. Miss Lestorasked the Chancellor of the Exchequer what is his estimate of the real cost, taking into account tax revenue, of increases in retirement pensions of 10s. per week, 15s. per week and £1 per week per person, respectively.
§ Mr. Patrick JenkinThe annual cash costs of the increases, without allowing for accompanying changes in other benefits, would be £175 million, £265 million and £350 million. Revenue from direct and indirect taxation would reduce these figures to approximately £120 million, £190 million and £250 million.