Laurence Robertson – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Laurence Robertson on 2016-02-08.

To ask the Secretary of State for Business, Innovation and Skills, what support his Department plans to make available to small companies operating in deprived areas to help meet the costs of the introduction of the living wage; and if he will make a statement.

Nick Boles

The Government has introduced measures to help businesses with the transition to the new National Living Wage. The Government is reducing corporation tax to 18% by 2020, setting the Annual Investment Allowance at a new permanent level of £200,000, and increasing the Employment Allowance from £2,000 to £3,000. The increase in the Employment Allowance means a business could employ four people on the National Living Wage and pay no National Insurance Contributions. It will benefit up to 590,000 employers and take up to 90,000 firms out of National Insurance Contributions altogether. These measures will help small businesses across the country.