L

Lord Vaux of Harrowden (CB)

Speaking in the House of Lords on 27 March 2025

Debate

Spring Statement

Contribution

My Lords, the Minister has mentioned several times this £1 billion re-investment, which is not included in the OBR forecast. Can he confirm that the impacts of the Employment Rights Bill, which we are soon to discuss, are also not included in the OBR forecast, including the £5 billion cost to business that it will create? The OBR says that: “Employment regulation policies that affect the flexibility of businesses and labour markets or the quantity and quality of work will likely have material, and probably net negative, economic impacts on employment, prices, and productivity”. Does he agree with that?

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