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Class 4 National Insurance Contributions - Statement

Part of the debate – in the House of Lords at 4:08 pm on 15th March 2017.

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Photo of Baroness Altmann Baroness Altmann Conservative 4:08 pm, 15th March 2017

My Lords, I too add my congratulations to the Chancellor on his very sensible and timely decision. The idea that self-employed and employed people have opportunities for arbitrage, and that that needs to be corrected, is absolutely right. However, the Chancellor should be applauded for concluding that we should wait until the Matthew Taylor review and a more thorough analysis can be carried out, and then come back in the autumn with perhaps different proposals that will achieve the desired impact without breaking manifesto commitments and recognise the huge importance to our economy of encouraging self-employment, risk-taking and the establishment of new businesses.