RISHI Sunak is considering slashing National Insurance contributions to spark a hiring spree by virus-hit firms. The Chancellor believes the move will help struggling businesses get back on their f…
He said: “Over the course of days and weeks you will be hearing a lot more from me and the Chancellor about how we want to bounce forward as a country.
“How we are going to double down on our programme of uniting and levelling up with infrastructure, education, technology.”It costs an employer £2,400 on average for every person they employ, according to experts at the Institute for Employment Studies.The move would be a boost for business chiefs who have warned that a walloping from NICs puts them off hiring.
It comes as fresh figures revealed Britain’s public debt is larger than the size of the country’s entire economic output.SLEEPOVER HOPEBoris hints 2 metre rule on brink of being SCRAPPED saying 'watch this space'INDEPENDENCE DAY!The coronavirus crisis sent public borrowing to a record £55.2billion in May, the Office for National Statistics said.
UK debt has ballooned to £1.95trillion — or 100.9 per cent of GDP. It is the first time debt has been bigger than the economy since 1963.CORONAVIRUS CRISIS - STAY IN THE KNOWTo receive The Sun’s Coronavirus newsletter in your inbox every tea time,
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