M

Member

Speaking in the House of Lords on 29 January 2025

Debate

National Insurance Contributions (Secondary Class 1 Contributions) Bill

Contribution

As I said earlier, this is particularly onerous for smaller businesses, where their size limits their ability to cope with and adjust to this extra cost. In some cases, it will be the final straw and a business will close. The impact assessment is urgent. As this very moment, many boardrooms will be considering whether to continue manufacturing in this country or whether it would be better to import from abroad, where they can buy the product for less than the cost of manufacturing here.

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