PARLIAMENTARY WRITTEN QUESTION
Economic Growth: National Insurance Contributions (26 January 2022)
Question Asked
To ask the Chancellor of the Exchequer, what assessment his Department has made of the impact of the National Insurance rise on economic growth; and if he will publish that assessment.
Asked by:
Christine Jardine (Liberal Democrat)
Asked by:
Christine Jardine (Liberal Democrat)
Answer
The Government has made a number of assessments of the impact of the introduction of the Health and Social Care Levy, which were published alongside the announcement. These include the distributional analysis of the impact of the combined tax and spending announcements, a technical annex in our plan for health and social care, and a Tax Information and Impact Note.
In their latest Economic and Fiscal Outlook, the Office for Budget Responsibility set out their assessment of the economic effects of the Levy, including the impact on labour supply and wages. This can be found here: https://obr.uk/efo/economic-and-fiscal-outlook-october-2021/
Answered by:
Lucy Frazer (Conservative)
31 January 2022
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