Following on from the encouraging news on the falling number of unemployed in the Bury North constituency the latest estimates are out of the number of firms who have benefitted from the new Employment Allowance. These show that since its introduction in April 1,200 businesses in Bury North are benefitting.
The Employment Allowance is a reduction in National Insurance Contributions that an employer pays for its employees. The allowance is worth up to £2,000 off the National Insurance bill of every employer and is open to businesses, charities and community amateur sports clubs.
The allowance means a business could now hire someone on £22,400 a year, or four people working full-time on the minimum wage, and not have to pay any employer National Insurance Contributions. This is making it easier for local businesses to grow and create more jobs in Bury, Ramsbottom and Tottington
This tax cut is a key part of our long-term economic plan to back business and secure a better future for Bury and Britain.