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| Businesses support Conservatives' NI plans |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Thursday, 01 April 2010 00:00 |
 Many of Britain's leading business bosses have today pledged their support to the Conservative's commitment to scrap the government's proposed increase on National Insurance (NI) should the party be elected.Shadow chancellor George Osborne declared earlier this week that the Conservatives would block chancellor Alistair Darling's plan to increase NI contributions by one per cent for people earning more than £20,000 as of April 2011. The Conservatives would instead only apply the higher rate to people earning more than £45,400 and would fund their alternative plan by cutting the next annual public spending bill by £6 billion. That announcement has been backed by the chief executives of 23 major UK companies - including J Sainsbury, GlaxoSmithKline and Marks & Spencer - who collectively employ more than half a million workers. In a letter published by the Daily Telegraph, the group stated: "The government's proposal to increase NI, placing an additional tax on jobs, comes at exactly the wrong time in the economic cycle. As businessmen we know that stopping the NI rise will protect jobs and support the recovery." Posted by Daniel Frost. 
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