Biography Chronology Home Search Speeches/Statements

1979-1987 : Mr Major’s Written Parliamentary Answer on National Insurance

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.