§ Mr. Frank FieldTo ask the Chancellor of the Exchequer if he will estimate the additional(a) income tax and (b) VAT which would be paid if the basic state pension was raised to £120 a week for the single pensioner and £150 for married couples in (i) 2002–03 and (ii) 2003–04. [61256]
§ Dawn PrimaroloThe estimated income tax yield wold be some £2.8 billion in 2002–03 and £3.3 billion in 2003–04. The VAT yield would depend on what pensioners decided to do with the increase.