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| News » Company and Commercial Law » Conservatives in new business incentive pledge |
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06/10/2009 Conservatives in new business incentive pledge |
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The Conservative party has pledged measures that may help new businesses if it wins the next election.
Shadow chancellor George Osborne is proposing to incentivise new firms in a bid to boost employment by providing a two-year window where no employer national insurance will be paid on the first ten employees hired.
Such a move is intended to assist business start-ups and job creation, with the party claiming 60,000 new posts can be generated this way.
Those keen on starting a new company may wish to speak to business lawyers about the legal matters involved.
The policy has come in for criticism from Liberal Democrat treasury spokesman Vince Cable.
Mr Cable argued that it would hurt existing small businesses by allowing freshly-established firms to "undercut" them and suggested Mr Osborne's figures for the number of people it will help has been "plucked out of thin air".
"All small businesses need a helping hand at this time," Mr Cable added.
Written by Anna Norton
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