Mike Freer has welcomed new figures released today showing that 2,700 businesses in Finchley and Golders Green 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 businesses to grow and create more jobs in Finchley and Golders Green.
Within the first six months of its launch, over 850,000 employers across the country have benefitted from the Employment Allowance.
Mike Freer commented:
“This tax cut is a key part of our long-term economic plan to back business and secure a better future for Britain. Already, 2,700 businesses in Finchley and Golders Green are benefitting from the cut, making it easier for them to hire staff and create jobs.
“We want to make sure that every business that can claim this tax cut does. If you’re not sure how to please do contact me to find out more.
“Our long-term economic plan is helping to create jobs by making it easier for businesses to take on new employees. Since the last election, businesses in the UK have created over 2 million jobs.
“We now need to see our long-term economic plan through to deliver economic security and peace of mind for hardworking people in Finchley and Golders Green.
Prime Minister, David Cameron, commented on the figures saying:
“One of the big things we are doing to back business is the Employment Allowance, giving every employer up to a £2,000 cut in their National Insurance bill. That is benefitting around 2,700 businesses in Finchley and Golders Green – more than most other places in the country. You can see its effects locally: the shopkeeper moving into bigger premises and taking on more employees; the teenager recruiting the first member of staff in his start-up; the manufacturer taking on its apprentices full-time.
We are beginning to fix what went so wrong in Britain: businesses held back; mothers and fathers laid off; families fearing for the future. We are not there yet, not by a long way. If we want to secure a better future for Finchley and Golders Green, we have got to stick to the plan – because that is the only way we will continue delivering jobs and security for you and your family”.