Financial Effects of the Act
94.The revenue the Exchequer expects to raise from rate rises in 2011-12 is as follows:
95.The cost of the secondary rate increase with respect to Class 1A and 1B NICs is not included in the table above. Although these rate rises are also expected to occur in 2011-12, Class 1A and Class 1B NICs paid in respect of that year will not be received until 2012-13.
96.The cost to the Exchequer of the Holiday is estimated to be £940m.
97.The net effect on the National Insurance Fund of the measures in the Act will be positive.