§ Mr. WebbTo ask the Chancellor of the Exchequer if he will make it his policy not to collect national insurance contributions from individuals who will reach state pension age during the course of a financial year where those individuals will be unable to accrue any additional rights to contributory benefits in respect of those contributions. [153409]
§ Dawn PrimaroloThe UK national insurance scheme operates on the "pay as you go" principle so that the contributions paid by people of working age fund the benefits of people who are currently claiming benefit. The Government believes that it is right that working people between the ages of 16 and the state retirement age should contribute to the payment of benefits of those not in work and to the funding of the NHS.
§ Mr. Frank FieldTo ask the Chancellor of the Exchequer what the size of the surplus on the national insurance fund has been in each of the last 20 years; and how much of this surplus was borrowed by the Government, and at what rate of interest, in each of those years. [153407]
§ Dawn PrimaroloThe following table shows the excess of receipts over payments for the National Insurance Fund for the past 20 years. Negative figures indicate an excess of payments over receipts.
Financial year Excess of receipts over payments (£ million) 1983–84 580 1984–85 374 1985–86 316 1986–87 414 1987–88 1,581 1988–89 3,081 1989–90 -62 1990–91 1,485 1991–92 -3,459 1992–93 -4,897 1993–94 1,112 1994–95 2,279 1995–96 1,008 1996–97 -98 1997–98 1,871 1998–99 2,669 1999–2000 2,161 2000–01 4,841 2001–02 4,351 2002–03 2,899 Notes:
1. Figures refer to the Great Britain National Insurance Fund only. Northern Ireland has a separate Fund.
2. Figures are taken from the National Insurance Fund accounts, which are published annually by The Stationery Office.
Details of investments are set out in the National Insurance Fund Accounts published annually by The Stationery Office.