The information requested is in the following table.
£ billion—2008-09 prices (a) (b) (c) 2010 12 11 10 2011 13 12 11 2012 13 12 11 2013 14 13 11 2014 15 13 12 Notes: 1. Estimates have been rounded to the nearest £ billion and are presented in financial years (e.g. 2010 refers to the financial year 2010-11). 2. Estimates relate to individuals living in the United Kingdom. 3. The guarantee credit level has been defined as the standard minimum guarantee for a single pensioner with no additional premiums (i.e. currently £124.05 per week), increased by average earnings in future years. Treasury economic assumptions have been used to model earnings uprating. 4. The estimates are presented net of savings in income related benefits and additional tax revenues, which have been estimated using the Department’s Policy Simulation Model. Source: DWP modelling