§ Ms. CorstonTo ask the Secretary of State for Social Security on present national insurance contribution rates for employees and employers, what would be the excess of contribution income over benefits, applying the standard assumptions of the Government Actuary, in the years (i) 2000-01, (ii) 2010-11, (iii) 2020-21 and (iv) 2030-31; and what would be the excess in each case if the rate of unemployment was assumed to be(a) 3 per cent. and (b) 8 per cent. [3051]
§ Mr. HealdThe information is not available in the format requested. Such information as is available is in the table. However, I refer the hon. Member to table 10 of HC 160 which reflects the Government Actuary's estimate of the effect on contribution rates of a 2 per cent. change in the unemployment assumption.
Information based on assumed unemployment rates of 3 and 8 per cent. could be provided only at disproportionate cost.
National insurance fund: £ billion at 1994–95 prices using 1995–96 contribution rates 2000–01 2010–11 2020–21 2030–31 Excess of contribution income over benefit expenditure(1) 1.94 2.90 5.54 3.97 Source:
Government Actuary's Department.
Notes:
1 Net of costs of administration but excluding any Treasury grant and investment income.
1. The information in the table is based upon the future rate of unemployment—5 per cent.—assumed for the purposes of the Government Actuary's report on the third quinquennial review under section 137 of the Social Security Act 1975 (HC 160).