Ceidwadwyr Arglwydd
Aeth i mewn i'r Tŷ'r Arglwyddi ar 12 Gorffennaf 2010
My Lords, we are a highly regulated and highly taxed country; that has a big impact on SMEs. On regulation, to appoint a lawyer can take as much as two months, to open a bank account takes three months and even to register for VAT can take weeks. This NIC increase is very much an employment tax: on every person employed, you have to pay 15% NIC. Could the Minister please tell us what they...
My Lords, no other country in the world taxes companies to employ people. We do that through our national insurance contributions, which are now going up from 13.8% to 15%. That will hit all our SMEs hard, which are the backbone of our economy. What will the Government do to support our SMEs to compensate for this additional cost—this evil tax—that we are talking about?
My Lords—
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