National Insurance Contributions Bill
11:00 am
David Gauke (Shadow Minister, Treasury; South West Hertfordshire, Conservative)
I might be confused. There are two ways of aligning. You can raise national contributions up around the limit, so people pay 11 per cent. for more, or you could reduce the point at which people start paying higher rate income tax, so rather than paying 22p—it is now 20p—they start paying 40p. In a way, the fact that the Government have raised the upper earnings limit raises less revenue than the alternative approach. Is that correct?