L

Lord Wilson of Sedgefield (Lab)

Speaking in the House of Lords on 15 September 2026

Debate

Tax Burden and Economic Growth

Contribution

Obviously, I do not want to pre-empt anything that might come out in the Budget, but it is fair to say that the Government have protected the smallest businesses from the NICs changes by more than doubling the employment allowance, which allows eligible employers to reduce their employer NICs bill by up to £10,500. This means that around 900,000 employers, or around 40%, will have no employer NIC liabilities. We are thinking about small companies—we know that they are the ones that grow the economy—and we are going to continue doing what is best for the British economy.

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