§ Mr. WebbTo ask the Secretary of State for Work and Pensions how much of the proposed expenditure on the pension credit in 2003–04 is attributable to(a) the guarantee credit and (b) the savings credit. [21099]
§ Mr. McCartney[holding answer 6 December 2001]: It is estimated that our proposals for the Pension Credit will increase benefit expenditure by approximately £1 billion in 2003–04 when Pension Credit is introduced in October 2003. This expenditure is in addition to the expenditure of approximately £2¼ billion on the Minimum Income Guarantee which has been forecast for the same period.
Of the additional expenditure of £1 billion: approximately £220 million is attributable to the changes to Housing and Council Tax Benefits; approximately £450 million is attributable to the savings credit; and, the remainder is attributable to the other proposed changes such as the way in which capital is treated.