§ 66. Mr. G. Thomasasked the Chancellor of the Exchequer the saving to the Treasury resulting from the reduced Government contribution to the National Insurance Scheme since 1950.
§ Mr. Boyd-CarpenterThe National Insurance Act, 1951, provided for a reduction in the Exchequer payments to the National Insurance Fund and as a result the Exchequer will have paid£204 million less during the three years ending in March, 1954 than was originally contemplated under the National Insurance Act, 1946. This is, however, a temporary adjustment and in the very near future large additional sums will be required to meet the rising cost of retirement pensions.