§ Mr. FieldTo ask the Secretary of State for Social Security if he will estimate how many pensioners would 279W benefit financially and what the average benefit would be from reducing the tariff income from capital from the present rate to £1 per week for every £500 over £6,000 for people aged over 60 years. [121274]
§ Mr. BayleyThe information is in the table.
The estimated number of pensioners benefiting and the average gain as a result of a reduction to the tariff income of £1 a week for every £500 over £6,000 Total gainers (000) Average gain (£1s per week) Income Support (IS) 60 4.55 Housing Benefit (HB) 80 3.70 Council Tax Benefit (CTB) 160 1.25 Notes:
- 1. Cases have been rounded to the nearest 5,000 for each benefit, and prices to the nearest 5 pence.
- 2. This costing is carried out following the extension of the capital limits to £6,000 and £12,000 for Income Support, and £6,000 and £16,000 for Housing Benefit, and has been adjusted to caseload forecasts for 2001–02.
- 3. It is not possible to provide a total number of gainers overall, as there is considerable overlap. Gainers on HB and/or CTB may float on to IS, while gainers on HB may also gain CTB.
§ Mr. FieldTo ask the Secretary of State for Social Security if he will estimate the cost of reducing the tariff income from capital from the present rate to £1 per week for every £500 over £6,000 for people aged over 60 years. [121275]
§ Mr. BayleyThe information is in the table.
The estimated cost of reducing the tariff income to £1 a week for every £500 over £6,000 in 2001–02 £ million Benefit Total cost Income Support 15 Housing Benefit 15 Council Tax Benefit 10 Total 40 Notes:
- 1. This question has been answered using the Policy Simulation Model (PSM) for Income Related benefits, based on 1997–98 Family Resources Survey data.
- 2. Figures are rounded to the nearest £5 million and uprated to 2000–01 prices and benefit levels.