Stephen
Metcalfe MP has welcomed the bold new tax cut for businesses and employers in
South Basildon and East Thurrock which takes effect this Sunday.
A
new Employment Allowance will take £2,000 off the National Insurance bill of
every employer – open to businesses, charities and community amateur sports
clubs. This will take 68,000 small businesses in the South East out of having
to pay any tax on jobs at all.
Employers
will be able to hire one extra person on £22,400 a year, or four people working
full time on the minimum wage, without paying any National Insurance.
Stephen
commented: “This new tax cut to help businesses take on more people will be
great news for people in South Basildon and East Thurrock. It will make it
cheaper and easier for firms to hire new employees – helping give more people
the security and stability of a regular pay packet."
“Creating
more jobs by backing business and enterprise with lower taxes is all part of
the Conservatives’ long-term economic plan. There are already more than 1.3
million people in work since the election, but the job is not done and that’s
why the Government is sticking with its plan to build a stronger, more
competitive economy."
