(8 years, 8 months ago)
Commons ChamberI would have thought that the hon. Lady would welcome the fact that the gender pay gap is narrowing so much. In fact, the steps that we have taken in the 2016 Budget, which will increase the pay of 900,000 women, mean that the gender pay gap for the lowest paid will have been eliminated by 2020.
Does the Minister agree that the Chancellor’s measures on small business rates will be hugely beneficial to business women across the country?
I agree with my hon. Friend. I also point out that we are making substantial progress on the number of businesses in this country owned and managed by women, which I believe will also lead to greater gender equality.
(9 years, 3 months ago)
Commons ChamberI thank the hon. Lady for her sensible suggestion. I know that those who put together the impact assessment online will have taken her wise words to heart and will make a change. Clearly, when one brings in legislation to freeze national insurance rates, the impact is that there is no change in national insurance and therefore no impact to report.
I have businesses in my constituency that work hard and do the right thing. They do not want to be clobbered with more taxes. The impact of the Bill is that if people do the right thing and work hard, the Government will support them to succeed in life.
I thank my hon. Friend for making that excellent point. The Government want to back small businesses, entrepreneurs and those who want the certainty over the next five years that if they employ four people on the new national living wage, they will not have to pay any national insurance because of the employment allowance.
My hon. Friend is right. The Bill’s measures strongly back business and other employers, many of whom will benefit from the employment allowance too.
The Bill legislates our commitment to provide certainty on national insurance rates for the duration of the Parliament. Hon. Members will be aware that our other commitments in the manifesto to lock taxes were that we would not increase the main rates of income tax and value added tax, as well as not increasing national insurance. The Finance Bill will deliver those commitments and this Bill delivers the commitment on national insurance.
The Bill is very much welcome and goes hand-in-hand with what the Government are doing in other areas, such as the local growth fund. The Government have set aside £12 billion, £7 billion of which has already been spent on building homes and supporting businesses. The wider picture is that the Government are supporting businesses on the front line, creating homes, jobs and opportunities. That is the right way forward.
My hon. Friend is absolutely right. This is part of a package of measures the Chancellor announced in the July Budget.