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State Retirement Pensions

HM Treasury written question – answered on 10th March 2015.

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Photo of Austin Mitchell Austin Mitchell Labour, Great Grimsby

To ask Mr Chancellor of the Exchequer, what estimate he has made of the cost to the public purse of raising the basic state pension by (a) 10, (b) 15 and (c) 20 per cent.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

Forecasts of expenditure on the basic State Pension are published at:

https://www.gov.uk/government/statistics/benefit-expenditure-and-caseload-tables-2014

In 2015/16 this is forecast to be approximately £68.45 billion in cash terms.

This can be used as the basis for calculating simple percentage increases.

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