Clause 1
National Insurance Contributions Bill
5:00 pm
David Gauke (Shadow Minister, Treasury; South West Hertfordshire, Conservative)
My understanding is that the retail price index is always an annual figure. I think that this wording is used in other legislation. I can see where the hon. Gentleman is coming from and I can check that, but I think that the same formula is used elsewhere. If I am wrong, he makes a very strong argument. I think that the amendment would do what I say it would, and if it would not, I will withdraw it.