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National Insurance Contributions Bill

I had not reached that appendix, so I thank the Minister for those figures. I accept that they are very close. Nevertheless, there is a reduction year on year. Had more than 50 per cent been allocated, the outcome would have been different. It is not just a matter of comparing one year with the next. Dealing with the rates is one thing, but if the bands are changed there will be consequential effects in subsequent years as well. I will press another point that I raised concerning the impact on the balance of the National Insurance Fund. The actuary’s report shows an increase to some £53 billion over the years to 2014-15. The effect of not allocating more to the NHS is to build up that balance, which will also have implications for the investment in the fund. If more were allocated to the NHS, what would be the effect, other than reducing that balance and changing the investment income? I remember in the past seeking answers from officials on what happens to that balance. I was told that it was partly invested back in gilts and that one could not use it for other expenditure, but I never clarified how the two answers sat together. Perhaps the Minister will say what would be the consequences of a greater allocation to the NHS and the long-term impact on the fund, given that its balance is due to increase over the next few years after a period when receipts are less than payments? Will the Minister also bear in mind contributory benefits, because it is in the mind of the noble Lord, Lord Freud, that these will feature less prominently in the universal credit system than they do currently.