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Proceeding contribution from Baroness Hollis of Heigham (Labour) in the House of Lords on Wednesday, 20 October 2010. It occurred during Ministerial statement on Comprehensive Spending Review.

Comprehensive Spending Review

My Lords, the devil is in the detail, as has been said before. The Statement says that pension savings credit will be frozen for four years, saving in total—on page 11 of the Red Book—£1 billion from pensioners. The state pension will rise with earnings, so that pensioners not in need of pension credit will be better off, which is good, but poorer pensioners dependent on pension savings credit will find that the income and the increase in state pension will be offset by the freeze in the savings guarantee and they will be worse off. Better-off pensioners will be better off, while poorer pensioners will be worse off. Is that fair?

Secondary information

Type
Proceeding contribution
Reference
721 c856 
Session
2010-12
Chamber / Committee
House of Lords chamber
Subjects
Child tax credit Child benefit Counter-terrorism Disadvantaged Defence BBC Age Banks Capital investment Development aid Civil list Housing benefit Government departments Equitable Life Assurance Society NHS Pensioners Northern Ireland Police Pre-school education Local government finance Workplace pensions Public sector Public expenditure Pupils Railways Redundancy Public finance Public sector debt Scotland Social security benefits Welfare tax credits State retirement pensions Working tax credit Schools Wales Social rented housing Roads Taxation Retirement Science Security of tenure S4C BBC World Service Cuts Employment and support allowance Presbyterian Mutual Society Bank levy Green Investment Bank BBC Monitoring Pupil premium
Link
View this Proceeding contribution on www.publications.parliament.uk