HC Deb 28 July 1977 vol 936 cc520-1W
Mr Pardoe

asked the Chancellor of the Exchequer if he will estimate the effect on the retail price index and pentioners' price index, respectively, of 1 per cent. increase in the employer paid national insurance contribution.

Mr. Robert Sheldon

I estimate that a 1 per cent. increase in the employers' national insurance contribution would raise the RPI by about 0.5 per cent. after two years. I should not expect the ultimate effect on the pensioner indices to differ substantially from the effect on the general RPI.