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Small Businesses: Living Wage

Treasury written question – answered on 13th February 2020.

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Photo of Bill Esterson Bill Esterson Shadow Minister (Business, Energy and Industrial Strategy), Shadow Minister (International Trade)

To ask the Chancellor of the Exchequer, what steps his Department is taking to support small businesses to afford the recent increase in the National Living Wage.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Government recognises that increases in the National Living Wage will mean extra costs for some businesses, However, it’s right that workers are fairly rewarded for their input into the economy. By the Spring, the Government will set out the Low Pay Commission’s remit for the years beyond 2020, taking account of the potential impact on employment and economic growth.

To support businesses with the costs of employing staff, the Government has introduced the Employment Allowance to reduce employers’ National Insurance contributions bill by £3,000. Over 1 million employers are benefitting from this relief.

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