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Commenting on the Prime Minister’s speech to the Federation of Small Businesses, Mark Littlewood, Director General at the Institute of Economic Affairs, said:
“David Cameron’s speech today represents a move in the right direction, but there is still a danger that the government is deregulating with one hand whilst heaping further burdens on small businesses with the other.
“The government should consider permanently exempting small companies from auto-enrolment for pensions. This policy risks creating substantial administrative costs for small employers and will harm job creation, even more so when the scheme requires a 3% employer contribution from 2018. This coalition policy is directly at odds with the Prime Minister’s pro-business rhetoric.
“Lower taxes create the right incentives for business to succeed. David Cameron should look towards a more radical reduction in business rates as well as a lowering of employers’ national insurance contributions if he is truly serious about seeing small businesses flourish in the UK.”
Notes to editors:
To arrange an interview with an IEA spokesperson please contact Stephanie Lis, Head of Communications: 0207 799 8909 or 07766 221 268.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
“David Cameron’s speech today represents a move in the right direction, but there is still a danger that the government is deregulating with one hand whilst heaping further burdens on small businesses with the other.
“The government should consider permanently exempting small companies from auto-enrolment for pensions. This policy risks creating substantial administrative costs for small employers and will harm job creation, even more so when the scheme requires a 3% employer contribution from 2018. This coalition policy is directly at odds with the Prime Minister’s pro-business rhetoric.
“Lower taxes create the right incentives for business to succeed. David Cameron should look towards a more radical reduction in business rates as well as a lowering of employers’ national insurance contributions if he is truly serious about seeing small businesses flourish in the UK.”
Notes to editors:
To arrange an interview with an IEA spokesperson please contact Stephanie Lis, Head of Communications: 0207 799 8909 or 07766 221 268.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
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