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National Insurance Fund

Volume 465: debated on Thursday 25 October 2007

To ask the Chancellor of the Exchequer how much was in the national insurance fund in each month in each of the last 10 years. (157170)

End year balance figures are published in the national insurance fund annual accounts.

The monthly balance on the GB National Insurance Fund from September 1996 to March 2006 is shown in the following table. 2005-06 is the last year for which audited accounts of the NI Fund are available.

£ billion

Month

1996-97

1997-98

1998-99

1999-2000

2000-01

2001-02

2002-3

2003-04

2004-5

2005-06

April

7.9

9.4

12.4

13.5

19.3

22.4

24.4

26.5

28.8

May

7.7

9.5

11.0

14.7

19.9

22.6

24.9

25.8

29.8

June

7.5

9.5

12.7

14.6

20.0

22.9

24.5

25.4

29.5

July

7.6

10.4

12.6

15.2

20.1

23.8

26.1

27.2

30.7

August

7.2

10.9

13.1

15.2

19.8

23.6

24.7

28.0

30.9

September

6.4

7.2

11.2

13.0

15.2

20.7

23.3

23.1

27.9

30.1

October

6.8

7.3

11.2

12.3

15.1

20.6

23.1

22.9

27.1

30.3

November

6.2

6.7

11.2

12.5

16.0

20.9

23.2

23.0

26.7

30.4

December

5.5

6.2

10.4

11.8

16.0

21.1

22.4

22.2

25.2

29.4

January

6.7

7.1

11.3

12.8

17.1

21.3

22.6

24.2

25.3

31.8

February

6.6

7.8

11.5

13.4

18.1

22.6

23.8

25.5

25.6

33.3

March

6.7

8.5

11.6

13.4

18.1

21.5

24.4

26.6

27.8

34.8

The balances for 2006-07 are not provided as the accounts for that year have not been finalised and are subject to audit by the NAO at this time.

The NI fund operates within the Government's fiscal rules and any surplus is invested to help fund public services.