Stephen Metcalfe MP: tax cut supporting jobs and backing businesses in Basildon and Thurrock
Local MP Stephen Metcalfe has welcomed new figures released today showing that 84,000 businesses in the East of England are benefitting from the Government’s Employment Allowance since its introduction in April, making it easier for businesses to hire staff and create jobs.
The Employment Allowance is a reduction in National Insurance Contributions that an employer pays for its employees. The allowance is worth up to £2,000 off the National Insurance bill of every employer and is open to businesses, charities and community amateur sports clubs.
The allowance means a business could now hire someone on £22,400 a year, or four people working full-time on the minimum wage, and not have to pay any employer National Insurance Contributions. This is making it easier for local businesses to grow and create more jobs in Basildon and Thurrock.
Within the first six months of its launch, over 850,000 employers across the country have benefitted from the Employment Allowance.
Stephen Metcalfe commented: “This tax cut is a key part of our long-term economic plan to back business and secure a better future for Britain. Already, so many businesses in the region are benefitting from the cut, making it easier for them to hire staff and create jobs.
Our long-term economic plan is helping to create jobs by making it easier for businesses to take on new employees. Since the last election, businesses in the UK have created over 2 million jobs.
“We now need to see our long-term economic plan through to deliver economic security and peace of mind for hardworking people in Basildon and Thurrock.”