Small Businesses: Living Wage

Department for Business, Innovation and Skills written question – answered on 28th October 2015.

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Photo of George Kerevan George Kerevan Scottish National Party, East Lothian

To ask the Secretary of State for Business, Innovation and Skills, if he will bring forward proposals to assist SMEs with higher labour costs by 2020 under the National Living Wage.

Photo of Nicholas Boles Nicholas Boles The Minister for Universities and Science, Minister of State (Department for Business, Innovation and Skills) (Jointly with the Department for Education)

The Government is reducing Corporation Tax to 19% from 2017-18 and then to 18% from 2020-21; setting the Annual Investment Allowance at a new permanent level of £200,000; and increasing the Employment Allowance by £1,000 to £3,000 from 2016-17. The increase in the employment allowance means a business could employ four people on the National Living Wage and pay no National Insurance Contributions.

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