National Insurance: Partnerships

Debate between Lord Livermore and Lord McLoughlin

Monday 10th November 2025 Lords Chamber

[Lord Livermore (Lab)]

I certainly agree with the first fact that the noble Lord set out, and I am happy to do so. On his second fact, that is inviting me to speculate, which I think I have made clear I am not going to do.

[Lord McLoughlin (Con)]

My Lords, without asking the Minister to speculate on what might be in the Budget, will he tell us what was meant when the Chancellor and the Prime Minister said they would not increase income tax?

[Lord Livermore (Lab)]

Again, I think that that may be inviting me to speculate on the next Budget. I am not going to give a running commentary on the speculation there has been so far. The Chancellor will set out the Government’s tax policy at the forthcoming Budget.