§ Sir Andrew BowdenTo ask the Secretary of State for Social Security what would be the value of(a) £500 and (b) £1,000 capital limits for social fund payments in 1997–98 if they had been uprated by (i) prices and (ii) earnings since their introduction. [14280]
§ Mr. Roger EvansThe information is set out in the table:
§ Mr. HealdThe £10 Christmas bonus would be £68.35 in December 1997 if it had been uprated in line with prices since its introduction in 1972. It is estimated that the additional cost would be around £800 million.
If the increase had been in line with average earnings, the bonus would be £115.45. The additional cost would be around £1.4 billion.
Source:
Retail Prices Index (all terms) and the Average Earnings Index (Whole Economy), as published by the Office of National Statistics.