I have published today the Impact Assessment for the National Insurance Contributions Bill. Copies are available in the Vote Office, Printed Paper Office and have also been placed in the Libraries of both Houses.
The National Insurance Contributions Bill will ensure that the Government can implement one of the reforms announced in the Budget 07 personal tax package, creating by 2009-10 a personal tax system which has two income bands covering both income tax and NICs.
The Bill will also include changes to the State Second Pension following the announcement by the Chancellor in the pre-Budget report. It was announced that the Government will bring forward the introduction of the Upper Accruals Point in 2009.