Below is the text of Mr Major's written Parliamentary Answer on National Insurance on 12th May 1987.
Mr. Austin Mitchell Asked the Secretary of State for Social Services, further to his reply dated 13 March, Official Report, column 330, concerning the cost of a reduction in the employee's contribution to national insurance, whether he will provide an estimate for the cost in 1987-
Mr. Major I assume that the first part of the hon. Member's question refers to a cut of five percentage points in the standard rate of employers' national insurance contributions. This, together with the lower rates paid in respect of the lower paid falling in proportion, would reduce the full year yield of employers' contributions by £8.3 billion in 1987-
A cut of five percentage points in the rate of class 4 national insurance contributions. to 1.3 per cent. would reduce the full-