National Insurance Contributions

Treasury written question – answered on 8th April 2010.

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Photo of Lembit Öpik Lembit Öpik Liberal Democrat, Montgomeryshire

To ask the Chancellor of the Exchequer whether his Department has made an assessment of the merits of (a) reducing National Insurance contributions for businesses taking on a graduate employee and (b) providing a National Insurance contribution rebate to businesses with fewer than 50 members of staff in 2010-11; and if he will make a statement.

Photo of Stephen Timms Stephen Timms Parliamentary Under-Secretary (Department for Business, Innovation and Skills) (Digital Britain) (also HM Treasury), Financial Secretary (HM Treasury) (also in the Department for Business, Innovation and Skills)

All tax and national insurance policy is kept under constant review. Previous experience of schemes with special arrangements for national insurance contributions for specific groups suggests administrative costs could limit take up.

Budget 2010 announced that the Government will extend the £1.3 billion Young Person's Guarantee after March 2011 to ensure young people adversely affected by the recession continue to be offered a Future Jobs Fund job, training or work experience if they cannot find employment within six months.

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