Helping small business thrive and create jobs in East Midlands
By Bill Newton Dunn MEP
Originally published by East Midlands Liberal Democrats
The Queen's Speech will help 60,000 businesses in the East Midlands by cutting National Insurance Contributions (NICs).
The National Insurance Contributions Bill announced by the Queen will introduce a National Insurance employment allowance of £2,000, reducing the cost of employment and supporting small businesses aspiring to grow and wanting to hire their first employee or expand their workforce.
Commenting, Bill Newton Dunn said:
"Building a stronger economy in a fairer society is my priority and the Liberal Democrats have ensured the Queen's Speech has measures that will help deliver that.
"In these difficult times, it's vital we help small businesses who want to hire more people. That's why Liberal Democrats have ensured that they get some more help towards National Insurance Contributions.
"This will help businesses in the East Midlands to thrive and create jobs for local people. I will work with them to ensure we can make the most of this excellent announcement."
The National Insurance Contributions Bill will introduce a National Insurance employment allowance of £2,000, reducing the cost of employment. It will also extend the General Anti-Abuse Rule to National Insurance Contributions and prevent the use of offshore employment payroll companies to avoid employer National Insurance Contributions.