L

Lord Londesborough (CB)

Speaking in the House of Lords on 23 July 2025

Debate

Jobs Market

Contribution

My Lords, since the Chancellor announced the £25 billion hike in employers’ national insurance, we have seen the number of people on the PAYE payroll fall in seven of the past eight months, vacancies, especially for SMEs, declining every month and, most worrying of all, GDP per capita and labour productivity both falling. How much more evidence do the Government need before facing up to the fact that raising NICs is not only damaging the employment prospects of the so-called working person but has effectively destroyed that much-vaunted mission of delivering the fastest rate of economic growth in the G7?

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