National Insurance Contributions (Reduction in Rates) (No. 2) Bill: New Clause 1 - Review of the effects of reducing employee and self-employed NIC contributions to zero
I beg to move, That the clause be read a Second time.

Clause text:

New Clause 1 - Review of the effects of reducing employee and self-employed NIC contributions to zero
“(1) The Treasury must publish before the end of the parliamentary session in which this Act is passed an analysis of the effect of —
(a) replacing “8%” with “0%” in section 1(1) of this Act,
(b) replacing “1.85%” with “0%” in section 1(2) of this Act, and
(c) replacing “6%” with “0%” in section 1(3) of this Act.
(2) The analysis in subsection (1) must set out the expected impact of the changes in subsection (1)(a) to (c) on total receipts to the National Insurance Fund in each of the financial years from 2024/25 to 2028/29.
(3) The Treasury must request the Government Actuary to make an assessment of the consequences for the Consolidated Fund in each of the financial years from 2024/25 to 2028/29 of shortfalls in the National Insurance Fund that would result from a zero rate for employee and self-employed national insurance contributions.”—(James Murray.)