National Insurance Contributions (Reduction in Rates) Bill - Second Reading

Part of the debate – in the House of Lords am 4:29 pm ar 12 Rhagfyr 2023.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Baroness Kramer Baroness Kramer Liberal Democrat Lords Spokesperson (Treasury and Economy) 4:29, 12 Rhagfyr 2023

You cannot eat a percentage of income. Going out and buying a loaf of bread costs you just the same whether you are a high earner or a low earner. So, using the percentage of income comparator to understand the cost of living pressures that people are living under and who is getting the most benefit is not the appropriate measure. If you use the cash number, you realise how much purchasing power arrives for people at the bottom end and how much more purchasing power arrives for people at the top end. That is the appropriate benchmark.