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Mr Latham
asked the Secretary of State for Social Services if he will break down the projected £800 million of additional revenue in a full year from the Budget proposal to abolish the upper limit on employer's national insurance contributions as between additional revenue from (a) earnings between the current cut-off point or its monthly or weekly equivalent and £15,000, (b) earnings from £15,000 to £20,000, (c) earnings from £20,000 to £30,000, and (d) earnings above £30,000.
Mr. Whitney
The Government Actuary's estimates are:
Annual earnings | Additional revenue from secondary contributions in a full year |
£ | £ million |
Up to 15,000 | 25 |
15,000 to 20,000 | 300 |
20,000 to 30,000 | 325 |
Over 30,000 | 150 |