§ Lord Oakeshott of Seagrove Bayasked Her Majesty's Government:
What is the estimated net additional cost to the Exchequer, in each year from 2006 to 2015, of increasing the basic state pension in 2006 by:
- (a) £10 a week for single people aged 75–79 inclusive; and
- (b) £15 for single people aged 80 and over with corresponding increases for couples in both cases, and with the basic state pension uprated in line with average earnings thereafter. [HL5257]
§ Baroness Hollis of HeighamThe information requested is in the following table:
Year The estimated net additional cost in each year from 2006–07 to 2015–16, of increasing the basic state pension in 2006 by £10 a week for single people aged 75–79 inclusive with corresponding increases for couples with the basic state pension then uprated by average earnings for those years (£ billion) The estimated net additional cost in each year from 2006–07 to 2015–16, of increasing the basic state pension in 2006 by £15 a week for single people aged 80 and over with corresponding increases for couples with the basic slate pension then uprated by average earnings for those years (£ billion) 2006–07 0.5 1.1 2007–08 0.7 1.3 2008–09 0.8 1.5 2009–10 1.0 1.8 2010–11 1.1 2.1 2011–12 1.3 2.3 2012–13 1.5 2.6 2013–14 1.8 3.0 2014–15 2.0 3.3 2015–16 2.3 3.7 Notes:
1. All costs are rounded to the nearest £100 million and are in 2003–04 price terms.
2. Gross costs are calculated by the Government Actuary's Department and are consistent with Budget 2003 assumptions.
3. The net costs are calculated using the DWP policy simulation model for 2005–06. The net cost represents the cost after allowing for any offsetting savings in income-related benefits only.