Thousands of businesses benefit from Government allowance scheme

First published in News

NEW data has revealed thousands of employers in the West Midlands have benefitted from an allowance scheme.

More than 59,000 employers have been boosted by the Employment Allowance, which reduces the National Insurance Contributions (NIC) that an employer pays on their workers.

Worth up to £2,000 for eligible businesses and charities, the Employment Allowance was introduced, in April this year, at Budget 2013.

Chancellor George Osborne said: “Backing businesses is a key part of the government’s long term economic plan.

“Small businesses make a vital contribution to our economy, creating jobs and stimulating growth.

“We’re cutting the tax on jobs and today’s figures show our approach is working.”

By the end of June, 725,000 employers across the UK had benefitted from the Employment Allowance. This number is expected to increase throughout the remainder of the tax year.

The data was release by The Treasury.

Comments (1)

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2:04pm Fri 1 Aug 14

thompson9100 says...

It interests me to see how this is backed up by figures from those companies showing additional job creation. The scheme in principal is good, but if those companies in receipt of it were going to employ people regardless, or haven't taken any additional staff on, then this is just a white elephant putting extra profit into the hands of the business owners. Where's the evidence it had made any meaningful difference?
It interests me to see how this is backed up by figures from those companies showing additional job creation. The scheme in principal is good, but if those companies in receipt of it were going to employ people regardless, or haven't taken any additional staff on, then this is just a white elephant putting extra profit into the hands of the business owners. Where's the evidence it had made any meaningful difference? thompson9100
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