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Warning over NI hike plan

20th May 1999, Page 10
20th May 1999
Page 10
Page 10, 20th May 1999 — Warning over NI hike plan
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Which of the following most accurately describes the problem?

Britain's owner-drivers could be forced to pay higher National Insurance contributions to cater for their state pensions.

Compulsory pension contributions for the selfemployed were considered in the Government's stakeholder pensions consultation paper in December, Social Security Secre tary Alistair Darling has yet to decide if the contributions will be increased, but the Federation of Small Businesses warns that any rise would be damaging to the self-employed, including owner-drivers. It points out that UK workers earn an average of £10,000 a year while the self-employed earn an average of £12,500. The FSB adds: "Many people think that the selfemployed earn a lot of money—but this is wrong. The self-employed are already facing a rise in National Insurance contributions. If someone is earning a decent amount then an increase is all well and good, but those living on the cusp will find it hard."