§ Mr. Rookerasked the Secretary of State for Social Services what would be the extra income to the national insurance fund from the abolition of the upper earnings limit on national insurance contributions.
§ Mr. PrenticeIf the upper earnings limits for classes 1 and 4 contributions were abolished then, on the assumptions used in the Government Actuary's report on the 1980–81 contribution rates, Cmnd. 7771, the extra contribution income to the national insurance fund for the tax year 1980–81 would be £490 million and would attract an additional Treasury supplement of £130 million. Of these sums £400 million and £110 million respectively would be received in the financial year 1980–81.