§ 58. Mr. Loveridgeasked the Secretary of State for Employment by what amount he estimates wages in the United Kingdom would increase on the basis of a payment of a guaranteed minimum of £20 a week for a full week's work and on the assumption of no consequential rise in other wages and the maintenance of present levels of employment; and what would be the estimated savings to taxpayers and ratepayers from family income supplements and other subsidies of all kinds.
§ Mr. Chichester-ClarkA guaranteed minimum of £20 for a working week excluding overtime, given these assumptions, would cost between £15 and £16320W million per week or a little over 2 per cent. of the total United Kingdom wage and salary bill.
It is estimated that the savings to taxpayers from family income supplement would be approximately £100,000 a week. I regret that information is not available about savings from other subsidies.