Economic Growth - Question

Part of the debate – in the House of Lords at 3:10 pm on 16 September 2025.

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Photo of Lord Fox Lord Fox Liberal Democrat Lords Spokesperson (Business) 3:10, 16 September 2025

My Lords, 50% of the economy is small and medium-sized businesses. In its commentary on today’s rise in unemployment and fall in vacancies, the British Chambers of Commerce highlighted employment costs; in particular, it singled out the hike in employers’ national insurance. Earlier today, those noble Lords who were in Prayers prayed for the wealth and tranquillity of our nation. Rather than wait for divine Intervention, can the Minister now admit that the national insurance rise was wrong, and it is contributing to neither wealth nor tranquillity in this country?

Minister

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intervention

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