FSB calls for NIC holiday extension
The Federation of Small Businesses (FSB) is calling for an extension to the government’s National Insurance contribution (NIC) holiday as part of a future programme for growth.
It comes after chancellor George Osborne announced a series of public sector cuts in today’s (October 20th) Comprehensive Spending Review.
John Walker, national chairman of the FSB said small firms understand the need for such cuts but called on the coalition to incentivise smaller enterprises to boost business.
He claimed the current NIC holiday should be extended to include existing firms employing fewer than four people.
“It is up to the government to incentivise the small business community – through extending the NIC holiday to existing firms and cutting VAT to five per cent in the construction sector – to promote growth and help small firms take on new staff,” he commented.
The FSB also called for the introduction of a business-led mentoring service to provide firms with mentors backed by the banking industry.
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