SUNAK IGNORES SMALL BUSINESS AND SELF EMPLOYED



November 26th, 2020.


Rishi Sunak has mostly ignored small business hit by the pandemic and the struggling self-employed in yesterday’s Spending Review.


The chancellor shrugged off calls for him to cut national insurance and help those self-employed such as company directors who have found themselves excluded from government Covid support.

He did however freeze any increase in business rates when they kick back in again in April. The Treasury estimates that this move will save businesses £575m over the next five years.

Indeed, there was more help for the employee than the employer, as Mr Sunak increased the National Living Wage to £8.91 per hour for those aged over 23 and announced a Restart Scheme to help the newly unemployed.

Jonathan Geldart, director general of the Institute of Directors, welcomes the Restart Scheme but said the chancellor missed a trick by not combining the scheme with a cut to employers’ NI contributions.


For the full story at smallbusiness.co.uk CLICK HERE.
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