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National Insurance Debate Rages On
Listed under: News
Published: Wednesday, March 31, 2010
Plans to reduce the one percent rise in National Insurance next April are a step in the right direction, but still far from ideal, according to one of the UK's leading business support groups.
The British Retail Consortium (BRC) is urging the Government to rethink its plans to increase National Insurance in 2011, suggesting any major changes will have a detrimental effect on retailers, not only significantly reducing their overheads, but limiting their capacity to maintain and create jobs in the long-run.
Despite welcoming the Conservative's plans to reduce some elements of National Insurance payments, the BRC says more will need to be done to boost the retail sector.
Commenting on the Government's plans, Stephen Robertson, director general of the BRC, says, “Any increase to National Insurance is a tax on jobs and undermines retailers’ ability to maintain and create employment. Raising it will hamper businesses’ ability to maximise their contribution to the recovery.
“The Conservative proposals to reduce National Insurance payments are a step in the right direction, but should go further by scrapping the full increases. We’ll need to examine the detail of how the reductions will be paid for, but it must focus on public spending efficiencies, rather than tax hikes,” he adds.
How will a rise in National Insurance affect your business? Email your thoughts to .(JavaScript must be enabled to view this email address)
The British Retail Consortium (BRC) is urging the Government to rethink its plans to increase National Insurance in 2011, suggesting any major changes will have a detrimental effect on retailers, not only significantly reducing their overheads, but limiting their capacity to maintain and create jobs in the long-run.
Despite welcoming the Conservative's plans to reduce some elements of National Insurance payments, the BRC says more will need to be done to boost the retail sector.
Commenting on the Government's plans, Stephen Robertson, director general of the BRC, says, “Any increase to National Insurance is a tax on jobs and undermines retailers’ ability to maintain and create employment. Raising it will hamper businesses’ ability to maximise their contribution to the recovery.
“The Conservative proposals to reduce National Insurance payments are a step in the right direction, but should go further by scrapping the full increases. We’ll need to examine the detail of how the reductions will be paid for, but it must focus on public spending efficiencies, rather than tax hikes,” he adds.
How will a rise in National Insurance affect your business? Email your thoughts to .(JavaScript must be enabled to view this email address)
