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NewsGovernment urged to extend NICs holiday to existing companies
Government urged to extend NICs holiday to existing companies
Posted by Craig Williams
An extension of the National Insurance Contributions (NICs) holiday to existing UK companies would help to reduce high unemployment rates, it has been suggested.
The Federation of Small Businesses (FSB) stated yesterday (February 15th) that the government's proposal of a National Insurance Holiday for start-up businesses that take on up to five members of staff is a good idea.
However, it noted the scheme should be extended to small enterprises that already exist, particularly after recent research by the organisation showed companies looking to take on new staff in the final quarter of 2010 fell from 12.2 per cent to 8.7 per cent compared to the previous three months.
John Walker, national chairman of the FSB, said: "[The] government must give a helping hand to small firms and create an environment that helps small businesses grow and develop."
The news comes after the Confederation of British Industry explained its belief that any future banking reforms that take place in the UK must be done in such a way as to support the private sector in the aftermath of the global economic downturn.
16/02/2011 08:12
News category: Employment