Gosport MP Caroline Dinenage has welcomed a bold new tax cut for businesses and employers in Gosport, which will take 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 measure 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.
Caroline commented:
"This new tax cut is great news for businesses in Gosport, making it cheaper and easier for firms to hire new employees thus helping to give more people the security and stability of a regular pay packet.
Thanks to this Government's policies, 1.3 million people have entered employment since 2010; however, there is always more to be done which is why I am pleased that the Government has expressed its commitment to helping businesses get more people into work. As a small business owner myself, I am proud to support a policy that will help firms around the country to expand, to innovate and crucially to create jobs."
Since her election, Caroline has endeavoured to boost the number of jobs and stimulate economic growth across the Gosport peninsula. She has worked hard on a number of development projects, including the Daedalus Enterprise Zone and the Bridging the Gap fund, and continues to collaborate with local organisations & businesses to help get more people into work.