§ Mr. Frank FieldTo ask the Secretary of State for Work and Pensions what the estimated cost is of compensating, on the same formula that the Pension Protection Fund will use, all those pensioners who will736W
Expenditure on pensioner benefits 1992–93 to 2006–07 Cash terms (£ million) Real terms (£ million, 2004–05 prices) Percentage of Gross Domestic Product 2002–03 Outturn 57,404 60,367 5.4 2003–04 Estimated outturn 60,347 61,739 5.4 2004–05 Forecast 64,728 64,728 5.5 2005–06 Forecast 67,735 66,070 5.4 2006–07 Forecast 71,352 67,735 5.5 Notes: 1. Figures include basic State Pension (contributory and non-contributory), severe disablement allowance, widow's-bereavement benefits and invalidity-incapacity benefit paid to pensioners, additional State Pension (State Second Pension-SERPS), Graduated retirement benefit, Christmas bonus, winter fuel payment, 80 plus payment, one-off 70 plus payment (for 2004–05), free TV licences for over 75s, pensions compensation board, income support for people over 60-minimum income guarantee-pension credit, housing benefit and council tax benefit. 2. Forecast figures for 2003–04 to 2005–06 are consistent with Budget 2004 medium-term forecasts; forecast figures for 2006–07 are consistent with Budget 2004 long-term projections. Source: (Benefit expenditure Tables consistent with the Budget 2004, and long term projections for 2006–07.