Pensions to be raised

Press, Volume CXIV, Issue 33514, 20 April 1974, Page 2

Pensions to be raised

Since late 1972. social security benefit rates had been increased more than IS per cent—considerably above the increase in the eonsumer price index for the period. Mr Watt said. "Beneficiaries have there-f-e had a share tn th* nation’s rising productivity In addition, the earnings a wance« for means-tested beneficiaries have been res'.red and from April this

year, those with relatively low taxable incomes, will pav less tax.” Mr Watt said the Government had also already given a telephone rental conces-' s;on worth $2 5m a year, as well as introducing a rate rebate scheme for beneficiaries and others on modest incomes. "Tn addition.” he said, "we have paid two Christmas bonuses at a total cost of 58.5 m.” I i

“Contemporaneously with | the general wage increase of I 9 per cent, it has been de-1 cided to increase social; security benefits and incometested war pensions, from July 3. 1974.—the first day of the four-weekly pay period.”; Mr Watt said that the exact amount of the increase; would be announced in the! Budget. No adjustment would apply to the family; i benefit. I