§ Mr. SteinbergTo ask the Secretary of State for Social Security if he will estimate the level of the national insurance lower earnings limit and contribution ceiling expressed in (i) 1997 prices and (ii) as a percentage of average earnings in(a) 1997–98, (b) 2025 and (c) 2035. [21026]
§ Mr. HealdThe information is in the table.
Expressed as a percentage of estimated average earnings 1997–98 £ 1997–98>1 20252 20352 Lower earnings limit 62 16.7 9.6 7.9 Upper earnings limit 465 125.5 72.1 59.1 Notes:
1 Estimated full-time adult average weekly earnings at the mid-point of 1997–98. The estimate is based upon the Office for National Statistics estimate—derived from New Earnings Survey data—of full-time adult average weekly earnings at April 1996 and the assumptions about the increase in average earnings from April 1996 to the mid-point of 1997–98 underlying the "Financial Statement and Budget Report 1997–98".
2 Based on constant 2 per cent. real earnings growth from 1997–98 onwards.
Source:
Government Actuary's Department.