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National Insurance Contributions Bill

With this it will be convenient to discuss the following amendments: No. 10, in page 1, line 5, at end insert 'and (c) after subsection (6) insert— ““(7) Any regulations made under this section which increase the upper earnings limit shall be reviewed by the Treasury not later than 6 months after the date on which those regulations come into force to determine whether the upper limit, when calculated on an annualised basis, exceeds the level of earnings at which the higher rate of income tax becomes payable. (8) If this review so determines, the Treasury shall make regulations which set the upper earnings limit, when calculated on an annualised basis, at a level which does not exceed the level of earnings at which the higher rate of income tax becomes payable. (9) Any regulations made under subsection (8)— (a) shall be made by statutory instrument which is subject to annulment in pursuance of a resolution of either House of Parliament, and (b) must be made not later than 1st January of the tax year in which they are made and have effect in respect of the following tax year.””’. No. 9, in page 1, line 18, clause 2, at end insert ‘and (c) in subsection (6), at end insert ““and may not include any increase in the upper earnings limit in excess of the increase in the retail price index, in percentage terms, for the year to September of the preceding tax year.””’. No. 11, in page 1, line 18, at end insert ‘and (c) after subsection (6) insert— ““(7) Any regulations made under this section which increase the upper earnings limit shall be reviewed by the Treasury not later than 6 months after the date on which those regulations come into force to determine whether the upper limit, when calculated on an annualised basis, exceeds the level of earnings at which the higher rate of income tax becomes payable. (8) If this review so determines, the Treasury shall make regulations which set the upper earnings limit, when calculated on an annualised basis, at a level which does not exceed the level of earnings at which the higher rate of income tax becomes payable. (9) Any regulations made under subsection (8)— (a) shall be made by statutory instrument which is subject to annulment in pursuance of a resolution of either House of Parliament, and (b) must be made not later than 1st January of the tax year in which they are made and have effect in respect of the following tax year.””’