Oral Question·Department for Science, Innovation and Technology
“What assessment he has made of the potential impact of increases in employer National Insurance contributions on the science and technology sectors.”
Tabled: 19 December 2024Answered: 8 January 2025
Asked by
Rebecca Paul
Conservative — Reigate
Answering Minister
the Secretary of State for Science, Innovation and Technology
Answer from Hansard
The Secretary of State for Science, Innovation and Technology (Peter Kyle)
The Government have increased investment in R&D to record levels. We have also repaired the public finances, including the black hole left by the previous Administration. We have done so by protecting the smallest businesses through the impact of doubling the employment allowance to £10,500, meaning that 865,000 employers will pay nothing in additional tax.