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Upper Earnings Limit

House of Lords written question – answered on 21st May 2008.

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Photo of Baroness Hollis of Heigham Baroness Hollis of Heigham Labour

asked Her Majesty's Government:

What additional revenues would be generated by the removal of the upper earnings limit.

Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

The yield from removing the upper earnings limit for employee class 1 national insurance contributions would be £8.5 billion for 2008-09.

This excludes any estimate of behavioural effects, which could be significant given the scale of the change.

The estimate is consistent with Budget 2008 assumptions and assumes that the NHS allocation contribution rates are unchanged.

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