James Wild
Main Page: James Wild (Conservative - North West Norfolk)Department Debates - View all James Wild's debates with the HM Treasury
(1 month ago)
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James Wild (North West Norfolk) (Con)
Even before Labour’s jobs tax comes into force, we can see the damage that it is doing. Three quarters of a million jobs in hospitality will be subject to employer national insurance for the first time, costing £1 billion. Given that major hospitality and retail businesses are warning that lower-paid and part-time workers will suffer most, will the Chancellor think again? Can the Minister at least commit that there will be no further increases during this Parliament?
James Murray
The businesses to which the hon. Gentleman refers, like businesses in all sectors of the economy, benefit from the stability that this Government have brought to the economy. He wants to talk about unemployment and the rate of jobs. We recognise that making changes to employer national insurance contributions was a tough decision that will have consequences, but the unemployment rate will fall to 4.1% next year and remain low until 2029. When taken together, the Budget measures mean that the employment level in this country will increase from 33.1 million in 2024 to 34.3 million in 2029.