The Social Security (Contributions) (Re-rating and National Insurance Funds Payments) Order 2004

Whereas the Treasury, as a result of carrying out in the tax year 2003-04 a review of the general level of earnings in Great Britain pursuant to section 141(1) and (2) of the Social Security Administration Act 19921 (“the Administration Act”), have determined that an Order should be made under that section amending Part 1 of the Social Security Contributions and Benefits Act 19922 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 this Order makes provision corresponding to that mentioned in the preceding recital pursuant to section 129 of the Social Security Administration (Northern Ireland) Act 19923:

And whereas the Treasury, 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 2005, think it expedient that an Order should be made under section 2(2) of the Social Security Act 1993 (“the 1993 Act”)4:

And whereas the Treasury, with a view to adjusting the level at which the Northern Ireland National Insurance Fund stands for the time being and having regard to estimated benefit expenditure for the financial year ending 31st March 2005, think it expedient that an Order should be made under Article 4(3) of the Social Security (Northern Ireland) Order 1993 (“the 1993 Order”)5:

And whereas a draft of this Order was laid before Parliament in accordance with the provisions of sections 141(3) and 190(1) of the Administration Act, section 166(10A) of the Social Security Administration (Northern Ireland) Act 19926, section 2(8) of the 1993 Act and Article 4(8) of the 1993 Order7 and approved by resolution of each House of Parliament: