Partner Article

Firms should get "National Insurance holiday"

75% of entrepreneurs believe that the government should reduce businesses’ National Insurance Contributions (NIC) or offer an NIC ‘holiday’, according to a survey by recovery firm Tenon.

Half of those surveyed responded that a cut in the NIC rate would assist them in recruiting staff over the next quarter, while 20% stated that an NIC holiday would be most beneficial policy that the government could introduce to help their business.

“The Government needs to listen to the entrepreneurial community and start implementing those measures that will be of most help,” said Andrew Jupp, Head of Tax at Tenon.

“A meaningful reduction in the rate of employer’s National Insurance Contributions or a ‘holiday’ would be of real benefit to British businesses. Employers would be incentivised to take on those looking for work, reducing unemployment figures and aiding the wider economy.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .