§ Mr. PikeTo ask the Secretary of State for Work and Pensions what steps he is taking to tackle pensioner poverty. [45912]
§ Mr. JenkinsTo ask the Secretary of State for Work and Pensions what measures he is taking to ensure that pensioners share in the nation's prosperity. [44516]
§ Mr. McCartneyWe are committed to tackling pensioner poverty. In 2001–02 around £5 billion extra has been spent on pensioners as a result of our policies since 1997. In 2002–03 this will rise to £6 billion a year. This includes £2.5 billion more on the poorest third of pensioners.
This government introduced the Minimum Income Guarantee and is committed to raising this in line with earnings throughout this Parliament, ensuring that pensioners share in rising prosperity. From April, around 1.8 million of the poorest pensioner households will be over £1,000 a year better off in real terms as a result of the Government's tax benefit reforms.
From 2003 the Pension Credit will ensure that it pays to have saved, with those entitled standing to gain an average of around £400 a year.