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.
Answered on
28 October 2015
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.
Answered by
Department for Business, Innovation and Skills
Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.