New data has revealed over 850,000 businesses have benefitted from our decision to cut employers’ National Insurance Contributions (the so-called ‘jobs tax’).
And a survey from the Federation of Small Businesses (FSB) reveals many businesses are using this extra money to take on more staff.
Helping small businesses and enterprise is a key part of our long-term economic plan – to help create jobs and deliver greater security for hardworking people.
We have reduced the National Insurance Contributions employers have to pay – saving each business and charity up to £2,000.
In just six months, over 850,000 businesses have already benefitted according to HMRC figures – and that number is expected to increase throughout the rest of the tax year.
And the FSB have found that small business owners are using the tax cut to invest in staff and grow their business:
- 18% have used it to increase wages
- 17% to hire additional staff
- 8% to give more work/shifts to current staff
- 12% for training
- 18% to invest in equipment, machinery or premises
We can’t go back to Labour’s way of higher taxes and more regulations – it would hurt businesses and put thousands of jobs at risk.
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