| answer text |
<p>The information requested is not available as HM Revenue and Customs does not routinely
produce in-year estimates of the cost of abolishing Class 1 employer National Insurance
contributions (NICs) for employees under the age of 21.</p><br /><p>However a full
year costing estimate of this policy is published in table 2.2 of Budget 2015 which
is available from the following address:</p><br /><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/416330/47881_Budget_2015_Web_Accessible.pdf"
target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/416330/47881_Budget_2015_Web_Accessible.pdf</a></p><p><br></p><p>The
estimates for each financial year from 2015 to 2020 are as follows:</p><br /><table><tbody><tr><td
rowspan="3"><p><br> Employer NICs: abolish for under 21s basic rate earnings</p></td><td
colspan="5"><p>£ million</p></td></tr><tr><td><p>2015-16</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td><td><p>2018-19</p></td><td><p>2019-20</p></td></tr><tr><td><p>-450</p></td><td><p>-500</p></td><td><p>-535</p></td><td><p>-560</p></td><td><p>-585</p></td></tr></tbody></table><p><br></p><p>These
estimates are based on the Survey of Personal Incomes (SPI) outturn data up to 2012-13,
and then projected to 2019-20 in line with the Office for Budget Responsibility's
March 2015 economic and fiscal outlook.</p><br />
|
|
