As stated in An Action Programme for the Millennium, the Government is firmly committed to the achievement of an old age pension rate of £100 per week by 2002. An important step towards achieving this objective was taken in last year's budget, which delivered increases of £6 in the maximum personal rates of all pensions. This means that in the two budgets since taking office the Government has moved half way towards achieving the £100 target old age pension rate.
In formulating proposals for budget 2000, I will be endeavouring to make further progress towards achieving the £100 target rate. The question of the level of increases to be provided and the effective dates of those increases are matters for consideration by the Government, having regard to available resources and other priorities.