UK Parliament / Open data

Pensions Bill

Proceeding contribution from Liam Byrne (Labour) in the House of Commons on Monday, 17 June 2013. It occurred during Debate on bills on Pensions Bill.

I suspected that the pensions Minister would want to play politics with this issue. However, I hope that we can engage on it constructively in Committee.

The DWP has published estimates that show that the cost of including those women will be about £220 million a year. I say gently to the Secretary of State that the change that he is taking through the House today will net the Chancellor £5.5 billion in extra national insurance contributions in 2016-17 and £5.4 billion in 2017-18. The Chancellor has obviously spent some of that money for the Secretary of State by funding the proposals for social care, which are scored at £1 billion in 2016-17, and by funding employment allowance, which is scored at £1.6 billion. There is therefore £2.9 billion left. The cost of remedying the position of these women would be about 7.5% of the remaining NICs windfall that the Secretary of State has kindly brought the Treasury and just 4% of the overall NICs windfall. We are looking forward to working with the pensions Minister in Committee to fix this injustice, which I suspect he also feels in his heart.

Type
Proceeding contribution
Reference
564 c658 
Session
2013-14
Chamber / Committee
House of Commons chamber
Legislation
Pensions Bill 2013-14
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