HC Deb 10 December 1962 vol 669 c11W
Mr. McKay

asked the Minister of Pensions and National Insurance what would be the financial result if women contributed 8s., men 9s., and juveniles a little extra, if self-employed paid 7 per cent. of their wages, if basic benefits were raised to £5 per week, all dependency benefits including the wife of an insured person to remain as at present, the Exchequer supplement to be one-fifth of the total contributions and the surplus of graduated contributions above the graduated benefits paid to be used as at present to help to meet any deficiency of income in the general National Insurance department.

Mr. N. Macpherson

The National Insurance Fund would incur a deficit of the order of £400 million in the first year and more in later years.