§ Mr. Austin MitchellTo ask the Secretary of State for Social Security by how much the surplus of income over expenditure in the national insurance fund is expected to increase in the current financial year and in 1988–89; what is the purpose of the increase; and what action has been taken to protect the value of the contributions in real terms.
§ Mr. Peter LloydThe Government actuary will publish his estimates of the national insurance fund's surplus in the current year and in 1989–90, in his report on the draft re-rating orders, which will be laid before Parliament shortly. These estimates will be based on the economic assumptions published in the autumn statement. The real value of contributions has been protected by appropriate changes to rates and earnings limits but since 1985 the reduced rates have cut contributions paid by lower paid workers and their employers.