L

Lord Wilson of Sedgefield (Lab)

Speaking in the House of Lords on 15 September 2026

Debate

Tax Burden and Economic Growth

Contribution

I think it is fair to say that, as far as GDP per capita is concerned, the other figure that is not really looked at but is prevalent in all this is payroll employee-based productivity, which has grown by 2.2%—the fastest calendar year rate outside of the pandemic for more than a decade. Productivity growth is the main way to get a sustainable increase in long-term economic growth. As I said, we are not out of the woods yet, but there is a lot going on that is positive and optimistic; that is the line we need to toe.

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