§ Mr. Thorneasked the Chancellor of the Exchequer when he expects to relieve the pressure of taxation on pensioners whose retirement pensions are supplemented by small pensions received from employment in manufacturing industry, and who now find themselves worse off in real terms than they were two years ago.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 19th January 1976; Vol. 903, c. 355], gave the following information:
Although I am of course aware that many occupational pensions have been severely eroded by inflation, my hon. Friend will recognise that the substantial increases in national insurance pensions we have made since we came to office have more than kept pace with inflation. The new age allowance for elderly people has also gone a long way to protect the living standards of pensioners with small incomes during a period of economic difficulty. My hon. Friend will not expect me to speculate about possible future changes in taxation at this time of the year.