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Old Age Pensions

Volume 319: debated on Tuesday 2 February 1937

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asked the Chancellor of the Exchequer whether he will consider introducing a measure to amend the Old Age Pensions Acts in respect of the scale upon which the yearly value of property is calculated, having regard to the fact that the present scale of 5 per cent. on the first £375 (excluding the first £25) and 10 per cent. thereafter results generally in a notional income greatly in excess of the actual income from property under the prevailing rate of interest?

I would refer the hon. Member to the answer given on the 5th November last to the hon. Baronet the Member for Ealing (Sir F. Sanderson).