§ Mr. Stephen Rossasked the Chancellor of the Exchequer what additional wealth the work force in the United Kingdom will have to create to maintain pensions at their present value in real terms by 1990 if inflation averages 10 per cent. over the whole period 1978 to 1990.
§ Mr. Denzil DaviesThere is no specific growth for wealth and output required in order to maintain pensions at their present real value by 1990. Their maintenance at such a level would depend, inter alia, on the priority given to pensions in relation to employment income and other 189W social and economic requirements. Obviously, however, the lower the growth in wealth and output the greater would be the contribution required from the working population.