The Rt. Hon. Sir John Major KG CH

Prime Minister of Great Britain and Northern Ireland 1990-1997

1983-1987 Parliament

Mr Major’s Written Parliamentary Answer on National Insurance – 16 March 1987

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Below is the text of Mr Major’s written Parliamentary Answer on National Insurance on 16th March 1987.

Mr. Austin Mitchell Asked the Secretary of State for Social Services whether he will provide an estimate of the loss to the national insurance fund from a reduction of one percentage point in the rate of contribution.

Mr. Major It is estimated that a reduction of one percentage point in all the class 1 rates of National Insurance contributions in 1986-87 would cost the national insurance fund in a full year £1,470 million in respect of employees’ contributions, and £1,630 million in respect of employers contributions.