§ Mr. FlynnTo ask the Secretary of State for Social Security if he will state the value of the Treasury supplement to the national insurance scheme expressed in current values and calculated on the percentages paid in 1965, 1970, 1975 and 1979.
§ Mr. Peter LloydSince 1975, the Treasury supplement to the national insurance fund, which is paid out of general 545W taxation, has been assessed by applying its current percentage rate to gross national insurance contributions that were paid in the tax year into the fund. In 1988–89, such gross contributions are estimated to be £33,240 million, and the current rate of the Treasury supplement is 5 per cent.
The current 1988–89 value of the Treasury supplement is therefore estimated to be £1,662 million. The remaining information requested is as follows:
Percentage rate of the Treasury supplement and value of the Treasury supplement in 1988–89 if relevant percentage rate were applied to gross contributions in 1988–89 Year Percentage rate £ million 1965–66 19.1 6,349 1970–71 17.8 5,917 1975–76 18.0 5,983 1979–80 18.0 5,983