Carmichael welcomes extra support for Scottish businesses
Scottish Secretary welcomes measures that will deliver a £2,000 a year tax cut for 70,000 businesses and charities in Scotland.
The Secretary of State for Scotland Alistair Carmichael has welcomed legislation unveiled by the UK Government today that will provide a significant boost to businesses across Scotland
The National Insurance Contributions Bill - introduced to the House of Commons today - provides the detail of a new employment allowance of £2,000 per year for all businesses and charities to offset against their employer national insurance bill from April 2014. This will benefit 70,000 businesses in Scotland by £100m in total, with 35,000 businesses taken out of employer national insurance contributions altogether.
Mr Carmichael said:
Small businesses are the engine room of our communities and the economy in Scotland. For them, a £2,000 per year tax cut will be a welcome boost, I hope. It will in fact cut the need for some 35,000 Scottish businesses to pay national insurance contributions at all.
I hope this will send a signal to the business community that we are on their side and want to see them play the fullest part in re-building our economy.