“The Chancellor has today announced a series of measures that will give Britain’s businesses a real boost,” was the reaction of Anthea McIntyre MEP, Conservative Employment Spokesman in Europe, to George Osborne’s Budget Statement.
“I particularly welcome the Chancellor’s announcement that all employers will receive a £2,000 cut from the National Insurance Contributions from next April. Around 90% of this cut, which is equivalent to the employer’s NIC contributions on four full-time employees on the national minimum wage, will go to small businesses.
“This scheme is far more extensive than the relief I called for in last week’s BBC ‘Sunday Politics Show’ and is clear proof that George Osborne has achieved his ambition to deliver ‘a Budget for people who aspire to work hard and get on’. Another barrier to small and micro-businesses taking on more employees has been swept away and that can only be good news for future employment prospects.”
Other measures that Miss McIntyre saw as being especially helpful to Britain’s smaller businesses included the scrapping of the planned 3p fuel duty increase; the earlier introduction of the £10,000 income tax threshold; increased spending on infrastructure projects and the extension of the capital gains tax holiday for another year for the Seed Enterprise Investment Scheme (SEIS).
“All the goods that we buy are brought to us by truck or van and scrapping the fuel duty increase that the last Government had planned helps provide businesses with some certainty on these costs for the coming year.”
“I know that Britain’s 4.5 million small businesses and leading organisations such as the Federation of Small Businesses (FSB) will welcome the Chancellor’s evident determination to do what he can to help them thrive and grow despite the horrendous economic mess that he inherited from the Labour Party just three years ago.”