Quote:
Originally Posted by the truth
eh? offset a 25% wage bill increase? this is utter madness, its what I call politically correct business, where all basic economics and simple truths are banned from public debate. yes lets all pay the poorest £20 an hour minimum wage were nice people etc its drivel
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£20ph?.... that's not happening, I meant the cut in corporation tax.
Corporation tax and the new National Living Wage were the main talking points from the July Budget for businesses of all sizes but the implications for small firms aren't straightforward.
George Osborne, the Chancellor, announced that the rate of corporation tax would fall to 19pc in 2017 and 18pc in 2020, the lowest in the G20. For start-ups and many UK small firms, which only generate a marginal profit, this is unlikely to have a big impact.
The National Living Wage was the "rabbit in the hat" moment of the address. As of April 2016, the Government is introducing a new minimum wage of £7.20, which will rise to £9 by 2020.
Small firms or businesses employing a significant number of staff on the minimum wage are likely to feel this change most keenly, although there are some new measures from the Government to reduce the impact on the most vulnerable businesses.
http://www.telegraph.co.uk/finance/b...usinesses.html