Topical Questions

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 19th April 2016.

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Photo of George Osborne George Osborne Chancellor of the Exchequer and First Secretary of State 12:00 am, 19th April 2016

Small business is absolutely fundamental to the economy and to job creation. That is why we had such a big package in the Budget to help ease the burden of business rates and why we reduced corporation tax, which is paid by small companies that are in profit. We have also increased the annual investment allowance so that small businesses can invest in the future. To help them with the burden of the national living wage we have increased the employment allowance so that they can employ four people on the national living wage and pay no national insurance at all.