James Brokenshire has welcomed new figures released today showing that 1000 businesses in Old Bexley & Sidcup are benefitting from the Government’s Employment Allowance since its introduction in April, making it easier for businesses to hire staff and create jobs.
The Employment Allowance is a reduction in National Insurance Contributions that an employer pays for its employees. The allowance is worth up to £2,000 off the National Insurance bill of every employer and is open to businesses, charities and community amateur sports clubs.
The allowance means a business could now hire someone on £22,400 a year, or four people working full-time on the minimum wage, and not have to pay any employer National Insurance Contributions. This is making it easier for local Sidcup, Welling, Bexley and Blackfen businesses to grow and create more jobs.
Within the first six months of its launch, over 850,000 employers across the country have benefitted from the Employment Allowance.
Commenting on the figures, James said:
“This tax cut is a key part of our long-term economic plan to back business and secure a better future for Britain. The number of local businesses benefitting from Employment Allowance is a positive step towards creating more jobs and growing our local and national economy.”
“I am keen to make sure that every business in my constituency that can claim this tax cut does. If you’re not sure how to do so, feel free to contact my office using the usual details.”