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National Insurance Fund

Volume 35: debated on Thursday 27 January 1983

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asked the Secretary of State for Social Services what extra revenue will come into the national insurance fund during 1983–84 as a result of raising contributory rates in autumn 1982.

The increases in contribution rates and changes in earnings limits for 1983–84 which were announced in autumn 1982, together with the changes in contracted-out contributions announced earlier in the year, will provide the national insurance fund with extra revenue, including Treasury supplement, of almost £1,360 million in 1983–84.Details of the changes in the assumptions on which the forecasts were based are contained in the Government Actuary's report on the draft of the Social Security (Contributions Re-rating) Order 1982, Cmnd. 8742.