Business Hiring Intentions

Baroness Ritchie of Downpatrick Excerpts

Tuesday 3rd November 2026 Lords Chamber

[Lord Leong (Lab)]

My Lords, I recognise the pressures on employers. We took the difficult decision to stabilise the public finances and fund essential services, while increasing employment allowance to £10,500 to protect smaller businesses. We are also supporting recruitment through the youth jobs grant of up to £3,000 and apprenticeship hiring payments of £2,000. Our aim is to help businesses create opportunities and give young people the skills and experience to build lasting careers.

[Baroness Ritchie of Downpatrick (Lab)]

My Lords, does my noble friend agree that it is important to be positive about these matters and that the Employment Rights Act, along with today’s announcement about the potential SPS agreement, will underscore the importance of our food exports, our food industry and the many jobs in it, and the potential for new employment?

[Lord Leong (Lab)]

I totally agree with my noble friend. The labour market is changing, and the provisional ONS figures for the year to September 2026 show that the payroll has increased by 66,000 in administrative and support services, by 20,000 in education and by 19,000 in health and social care. The wholesale and retail sector lost 71,000, accommodation and food services lost 46,000 and manufacturing 32,000. We are backing investment into skills and sector jobs plans to help businesses recruit and people move into secure long-term employment.