Business start-ups

The government is preparing to launch its promised national insurance contribution holiday for start-up firms in certain areas of the UK.

New research has suggested that business angels are being asked to invest their money for longer and in larger projects.

With thousands of people predicted to start up their own micro-businesses as unemployment rises, a business group has called on the tax authorities to respect their employment status.

A leading business group has urged the government to extend the promise of a national insurance contribution holiday for new businesses right across the country as a new survey shows business confidence in decline.

A study by a leading think-tank has claimed that reducing the obstacles to starting up a new business could push up economic growth significantly over the coming years.

Plans have been announced to establish a growth fund worth £1 billion to support business and economic development in those English regions likely to be hit by public spending cuts.

Not for a political generation or two has a Budget generated such intense interest. Pre-announcements by the Coalition Government had prepared everyone for large-scale changes to the tax system and for deep public spending cuts.

It has been a matter of policy for the government to reverse plans of the previous administration to push up national insurance contributions by 1 per cent as from next April.

The Chancellor, George Osborne has risen to his feet in the House of Commons at 12.30 pm and has embarked on what is regarded as one of the most important and far-reaching Budget speeches in a generation.

The emergency Budget is to give new businesses a one-year break from paying employers’ national insurance contributions on the first ten staff they employ.