A Budget To Create Jobs in an Unexpected Way?
One of the provisions in the budget is that if you start a business outside of the South East, you will get a discount of up to £5,000 on NIC for each of the first ten employees.
This is very generous compared to other parts of Europe, such as France and The Netherlands, where social costs are a big cost of starting a business. Remember that over the last twenty years, the French have been one of the larger groups to move to the UK.
So will it mean that entrepreneurs will look favourably on the UK, as a plsce to start a new business, especially as UK income tax is lower than many places in Europe. For instance we have a tax allowance of £7,400 before we pay tax.
The more I look at this measure, it sticks out as a very good idea. It will be interested to see what the rules are and how they are interpreted.
But just imagine, you are something like an Australian or American software company, who needs a European support office. Leeds, Liverpool, Newcastle or Manchester, all of which possess good air links to the rest of Europe, must have moved several steps up the list of where to site that office.
The Anonymous Widower 
I agree completely, in fact on the whole I am impressed with the budget, even though Neil and I will be financially worse off, because frankly the Uk public cannot continue to expect a higher level of services for a smaller amount of money!
LIz
Comment by Liz P | June 22, 2010 |