TAX YIELDS (Hansard, 25 March 1993)

HL Deb 25 March 1993 vol 544 c28WA 28WA

§ Earl Russell
asked Her Majesty's Government:
What change in the yield of

(1) income tax,

(2) national insurance contributions; would result from

(a) a 1 per cent. rise in average earnings,

(b) a 1 per cent. fall in average earnings.

The Earl of Caithness
Latest estimates are as follows:

Change in a full year at 1993–94 income levels from

1 per cent. rise in earnings £ million I per cent. fall in earnings £ million

Income tax 750 -740

Employee's Class 1 national insurance contributions 160 -160

Employer's national insurance contributions 240 -240

Change in a full year at 1993–94 income levels from
	1 per cent. rise in earnings £ million	I per cent. fall in earnings £ million
Income tax	750	-740
Employee's Class 1 national insurance contributions	160	-160
Employer's national insurance contributions	240	-240