Below is the text of Mr Major’s written Parliamentary Answer on Pensioners (Incomes) on 7th April 1987.
Mr. Andrew Bowden Asked the Secretary of State for Social Services what estimate his Department has made of the percentage increase in real terms of pensioners’ incomes from savings since 1979.
Mr. Major Pensioners’ incomes from savings grew in real terms by 52.5 per cent. between 1979 and 1985, the latest date for which figures are available.
(Note – figures are obtained from the Family Expenditure Survey and relate to pensioner tax units i.e. single pensioners and married couples where the husband is over 65.)