M

Member

Speaking in the House of Lords on 29 January 2025

Debate

National Insurance Contributions (Secondary Class 1 Contributions) Bill

Contribution

Another reason why the impact assessment is needed for smaller businesses is the increase in the minimum wage, which I spoke about at Second Reading. This not only affects those on minimum wage but has a significant impact on salaries at all levels. Your skilled worker will wish to maintain the difference in salary from less-skilled workers; he or she will wish to keep the differential that learning more difficult skills and hard work have achieved. With sophisticated computer-controlled machinery nowadays, greater knowledge and technical ability is required on the factory floor than is commonly supposed or has previously been the case.

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