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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 Lord Marlesford Lord Marlesford Conservative 4:08 pm, 15th March 2017

My Lords, I congratulate the Chancellor on his rapid reverse but might it be worth reminding the Labour Party what a long time it took for it to drop the absurd selective employment tax, invented by Professor Kaldor? It hung round Labour’s neck for a very long while. As for filling the gap, did my noble friend notice the suggestion that I made yesterday that one of the easiest things to do is to reverse the freeze on road fuel duty, which would do less than make up for inflation? An increase of 10p a litre would produce £4.6 billion of revenue this year, next year and every year.