National Insurance Contributions Bill

Part of Orders of the Day – in the House of Commons at 5:42 pm on 17th December 2007.

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Photo of David Gauke David Gauke Shadow Minister (Treasury) 5:42 pm, 17th December 2007

Right. Well, I want to make it clear that the HMRC impact assessment refers to the 2.1 million people with earnings above the upper earnings limit who have contracted out. The assessment states:

"These individuals will either see a reduction in their take home pay (as they will get a lower rebate on their NICs than would otherwise have been the case) or a reduction in the money that goes into their pension scheme compared to not introducing the UAP until 2012/13."

Does the Financial Secretary agree?

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