HC Deb 25 March 1986 vol 94 c455W
Mr. Austin Mitchell

asked the Secretary of State for Social Services what would be the estimated cost to the Exchequer in 1986–87 of a reduction in national insurance contributions for employees of 1 per cent. of relevant earnings.

Mr. Major

On the basis of the assumptions set out in his report on the draft of the Social Security (Contributions, Re-rating) Order 1985, the Government Actuary estimates that a reduction of 1 per cent. in the primary contribution rates would produce a loss of revenue amounting to £1,290 million in 1986–87.