Part IXAlteration of Contributions Etc.

145Power to alter primary and secondary contributions

F1(1)

For the purpose of adjusting amounts payable by way of primary Class 1 contributions, the F2Treasury may at any time make an order altering the percentage rate specified as the F3main primary percentage in section 8(2)(a) of the Contributions and Benefits Act.

(2)

For the purpose of adjusting amounts payable by way of secondary Class 1 contributions, the F2Treasury may at any time make an order altering the percentage rate specified as the secondary percentage in section 9(2) of the Contributions and Benefits Act.

(3)

No order shall be made under this section so as to increase for any tax year the F4main primary percentage, or the secondary percentage, to a percentage rate more than 0.25 per cent higher than that applicable at the end of the preceding tax year.

(4)

Without prejudice to section 141 or 143 above, the F2Treasury may make such order—

(a)

amending section 11(1) of the Contributions and Benefits Act by altering the figure specified in that subsection as the weekly rate of Class 2 contributions;

(b)

amending section 13(1) of that Act by altering the figure specified in that subsection as the amount of a Class 3 contribution,

as F5the Treasury think fit in consequence of the coming into force of an order made or proposed to be made under subsection (1) above.