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The Bill aims to encourage employment in freeports by providing NICs relief, support veterans' employment with a full year of reduced employer NICs, exempt self-employed individuals from paying NICs on Test and Trace payments, and strengthen measures against tax avoidance. These provisions are intended to boost regional growth, protect low-income workers during the pandemic, and enhance the effectiveness of anti-avoidance schemes.
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He supports parts of the Employment Bill, especially regarding tax incentives for freeport employers. However, he questions why relief is conditional on employment not commencing until 6 April 2022 and expresses concern about the threshold set at £25,000 compared to other thresholds such as those for under-21s and apprentices.
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Intervened to clarify James Murray's position on freeports, questioning whether he supports them or agrees with his colleague who described them as 'economically illiterate'.
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Defended the Government's position on the global minimum corporate tax rate, emphasising that it is a package deal involving both pillars 1 and 2. He argued that under a Labour Administration, there would have been no taxation of platforms as proposed by pillar 1.
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Expressed interest in having a freeport in Northern Ireland and supported calls for such an initiative.
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Richard Thomson expressed support for freeports, advocating that companies should meet environmental obligations, net zero commitments, and fair pay standards before benefiting from tax incentives. He urged the UK Government to expedite the process to allow Scottish freeport models to proceed. Thomson welcomed NICs exemptions for ex-service personnel as a positive step towards supporting their transition to civilian life but highlighted concerns over budget cuts at the Office of Veterans' Affairs. He also supported measures to exempt self-isolation payments from NICs, arguing that this would remove administrative burdens on local authorities and employers. Additionally, he acknowledged the move to alter disclosure rules for tax avoidance schemes as a necessary step towards addressing potential abuse in the tax code.
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The speaker supports freeports as a measure to promote economic development in regions lagging behind, citing examples like Doncaster. He argues that incentives for businesses such as waiving of national insurance contributions will help create jobs and attract investment. The speaker also emphasises the need for both private and public sector investment and highlights the role of freeports in encouraging business relocation and growth.
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The speaker criticises the lack of evidence-based policy making regarding freeports, pointing out the absence of projections for job creation or impact assessments. He also highlights historical failures of similar policies under George Osborne in terms of job creation and economic outcomes. The speaker calls for annual data publication on the impact of freeports on local jobs, tax revenues, and neighbouring economies.
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The Liberal Democrats welcome provisions for a 0% rate of national insurance contributions for employers of former members of the armed forces and support measures to assist servicemen and women in their post-service life. They also welcome tax exemptions for covid payments, recognising the financial sacrifices made by individuals during lockdowns. The speaker supports actions against tax avoidance schemes targeting vulnerable taxpayers but questions the effectiveness of freeports and national insurance cuts without broader economic plans.
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Jim Shannon supports the Government's proposal to provide a zero rate of secondary class 1 national insurance contributions for employers who hire an armed forces veteran during their first year of civilian employment. He highlights the importance of ensuring veterans are not missed by charities and that there is clear help, cooperation, and coordination with veterans’ charities to identify people in need and facilitate job placements. Shannon also welcomes the commitment to freeports, both on mainland UK and in Northern Ireland, and asks for clarity on discussions with the Northern Ireland Assembly regarding these initiatives. He further supports measures against tax avoidance.
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Supports freeports and veterans measures. Argues that freeports can boost investment and trade, particularly for under-invested regions like north Wales. Highlights strategic location of Holyhead port in Ynys Môn and potential economic benefits from advanced manufacturing clusters and green energy research. Emphasises the role of legislation in unlocking regional potential through tax incentives.
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Supports national insurance contributions deductions for veterans and long-term unemployed. Argues that small adjustments to national insurance can help align incentives in employment market, benefiting veterans, disabled individuals, and society at large. Highlights structural issues such as higher unemployment among veterans compared to national average, and the economic rationale behind incentivising employers to hire these groups.
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Supports the Bill's intention to boost jobs, assist veterans in finding employment, ensure people can self-isolate without financial hardship, and tackle tax avoidance. Raises concerns about the conditional nature of national insurance relief for freeports starting after April 2022, questioning why it is below median pay levels and the rate for employing under-21s and apprentices. Asks for transparency on the Government’s approach to the global minimum corporation tax rate, advocating for a higher rate. Welcomes measures related to veterans but seeks clarity on the length of relief and upper secondary threshold.
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The bill introduces an employer national insurance contributions relief for businesses based in freeports and those that recruit veterans, aiming to drive economic growth and support employment. It also ensures self-employed workers receive parity with employed counterparts regarding test and trace payments. The bill strengthens HMRC's powers against tax avoidance schemes.