§ Mr. Maddenasked the Secretary of State for Employment how many employees and employers have taken advantage of the job release scheme since its introduction; what are the main financial considerations in reducing the retirement age, under the scheme, to 63, 62, 61 and 60 years, respectively; and if he will make a statement.
§ Mr. Golding11,422 employed people have joined the job release scheme since its introduction on 1st January 1977; figures are not available of employers taking part in the scheme. The main financial considerations in reducing the retirement age under the scheme as suggested relate largely to the substantial increase in expenditure which would be incurred be290W cause of the larger numbers of people who would become eligible and the increased duration of payment. The net costs of the scheme would be increased proportionately.
I would refer my hon. Friend to the statement my right hon. Friend the Secretary of State for Employment made to the House on 30th January 1978 that we plan to increase the effect of the job release scheme and extend it for a further year until 31st March 1979.