Local MP Caroline Dinenage today backed the Government's plans to cut taxes for small businesses by up to £2000 a year. The Employment Allowance will work by taking the first two thousand pounds off the employer National Insurance bill of every company in the country.
Speaking in Westminster, Caroline said,
"By taking a tax off jobs, it will now be much easier for millions of people who have set up their own firms to take on new employees. What's more is that that 98% of the benefit of this change will go to small and medium sized enterprises.
This is great news for small businesses in Gosport. Indeed, as a result of this bill 450,000 small businesses around the country– that's one third of all employers - will now pay no jobs tax at all.
This a key part of a wider programme that the Government has introduced to support aspiration, encourage job creation and boost growth. As a small business owner I am proud to support a policy that will help firms around the country to expand, to innovate and crucially to create jobs."