§ Last year I proposed a new landfill tax, which is a charge on the disposal of waste in, for example, tips and 1064 old quarries. That will come into effect on 1 October 1996. It will be charged at a standard rate of £7 a tonne and a lower rate of £2 for inactive waste.
§ That is a tax on waste in order to enable me to reduce the tax on jobs. The money raised by the landfill tax will allow for a matching cut in the main rate of employers' national insurance contributions by a further 0.2 per cent. to 10 per cent. from April 1997. That will cut the cost of employment by half a billion pounds and will make it cheaper for businesses to create new jobs.