§ Mrs. Wiseasked the Secretary of State for Social Services if he will list the earnings at which the "earnings rule" affecting retirement pensioners has operated in 1950, 1955, 1960, 1965, 1970 and each subsequent year, including the forthcoming change in November 1978, expressed both in actual money terms and in terms of current money equivalents.
§ Mr. Deakins,pursuant to his reply [Official Report, 26th May 1978;Vol. 950, c. 803–5], gave the following information:
The level of weekly earnings, beyond which the earnings rule would begin to operate, at various dates since 1950, is set out in the table below, both in cash terms at the time and in terms of April 1978 prices. The April 1978 prices are based on the movement in the General 106W Index of Retail Prices since April of the relevant year except where another month is shown; in those years the earnings level was increased in a month other than April and the movement in the index since that month has been used.
Date Earnings in cash terms Earnings at April 1978 prices £ £ 1950 … 1.00 5.91 1955 … 2.00 9.17 1960 (March) … 3.50 13.99 1965 … 5.00 16.66 1970 … 7.50 20.12 1971 (September … 9.50 22.80 1972 … 9.50 21.91 1973 … 9.50 20.07 1974(July) … 13.00 23.06 1975 … 20.00 30.15 1976 … 35.00 44.37 1977 (November) … 40.00 41.54 1978 (November) … 45.00 —