Introductory text

Whereas the Secretary of State for Social Security, as a result of carrying out in the tax year 1993-94 a review of the general level of earnings pursuant to section 141(1) and (2) of the Social Security Administration Act 1992^f1 (“the Administration Act”), has determined that an Order should be made under that section amending Part I of the Social Security Contributions and Benefits Act 1992^f2 (“the Contributions and Benefits Act”) by altering the rates of Class 2 and Class 3 contributions, the amount of earnings below which an earner may be excepted from liability for Class 2 contributions and the lower and upper limits of profits or gains to be taken into account for Class 4 contributions:

And whereas the Secretary of State, with a view to adjusting the level at which the National Insurance Fund stands and having regard to the sums which may be expected to be paid from the Fund in the tax year 1994-95, has determined that an Order should be made under section 143(1) of the Administration Act, and, for the purposes of adjusting amounts payable by way of secondary Class 1 contributions, has determined that an Order should be made under section 145(2) of the Administration Act amending section 9(3) of the Contributions and Benefits Act by altering the weekly earnings figures and the percentage rates therein specified:

And whereas the Secretary of State, with a view to adjusting the level at which the National Insurance Fund stands for the time being and having regard to estimated benefit expenditure for the financial year ending 31st March 1995, thinks it expedient that an Order should be made under section 2(2) of the Social Security Act 1993 (“the 1993 Act”)^f3:

And whereas a draft of the following Order was laid before Parliament in accordance with the provisions of sections 141(3) and 190(1) of the Administration Act and section 2(8) of the 1993 Act and approved by resolution of each House of Parliament: