M
Member
Speaking in the House of Lords on 3 March 2025
Debate
Social Security (Contributions) (Rates, Limits and Thresholds Amendments, National Insurance Funds Payments and Extension of Veteran’s Relief) Regulations 2025Contribution
In summary, these instruments uprate the lower earnings limit, small profits threshold, rate of class 2 and rate of class 3 by September 2024 CPI of 1.7%, and set most of the rates and thresholds for national insurance contributions which they cover at their 2024-25 levels for the 2025-26 tax year. The instruments also make provision for a Treasury grant, extend the veterans’ employer NICs relief and increase the rates of child benefit and guardian’s allowance by September 2024 CPI of 1.7%. I beg to move.
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