Skip to main content

National Insurance Surcharge

Volume 29: debated on Thursday 28 October 1982

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer what would be the cost to the Exchequer in a full year of(a)a 10 per cent. cut in the national insurance surcharge and(b)of its total abolition.

A 10 per cent. cut in the rate of national insurance surcharge would reduce the yield by 10 per cent., and in 1982–83 NIS is expected to yield in the region of £3 billion. Total abolition would therefore cost about £3 billion.

asked the Chancellor of the Exchequer what is the value of the national insurance surcharge paid by central Government and local authorities, respectively, over the last two years; and what is the expected value for the current financial year.

[pursuant to his reply, 27 October 1982, c.410]: The information is as follows:

198019811982–83(estimated)
Central Government354407330
Local authorities415482520