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Chancellor of the Exchequer George Osborne pays Enfield's Ridgeway Garages a visit to promote a new scheme to lower the cost of employment
Chancellor of the Exchequer George Osborne dropped in at an Enfield garage this morning to promote a new initiative to cut the cost of hiring new staff.
In a low-key meeting accompanied by MP Nick de Bois, Mr Osborne spoke to staff at Ridgeway Garages in The Ridgeway, Enfield.
The Government's new Employment Allowance to be introduced in April this year aims to reduce the cost of recruitment by giving benefits of up to £2,000, giving small businesses the chance to expand.
There will also be a drive to employ more people under the age of 21, with the cost of taking on younger staff significantly reduced with the abolition of National Insurance contributions.
Mr Osborne said: “I wanted to come to a great small business that is expanding. We are launching the national campaign and this will really benefit a small business like this by taking that money off their jobs tax and because of the extra cash they are going to invest in more facilities here and take on extra staff.
“It fits with what Nick has been doing, which is more than almost any MP has done in the country in supporting jobs in his local constituency and hosting jobs fairs. He was the one who said that this is a great small business and the type of job creation we want to see more of.”
The scheme is intended to give employers nearly £5.5billion per year. When asked where the money would be coming from to fund the allowance, Mr Osborne said: “We have had to make savings elsewhere in government; we have been able to afford the things that help create jobs.
“I have always been clear if you want to reduce taxes and help with the job creation, you have got to make sure you can pay for it and because we have a grip on the public finances and restored stability to the economy that we can do these things.”
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