NI holiday scheme an 'embarrassing setback'
Ed Balls castigates the government for its lack of success in encouraging new business to take employees' tax relief
THE NI holiday scheme’s lack of success was an “embarrassing setback” for the government, according to shadow chancellor Ed Balls.
Labour analysis found that just 5,137 companies had so far used the scheme, which allows new businesses to receive NI tax reliefs on employees for six months. Accountancy Age revealed in May that the Treasury was far short of the 132,000 eligible for the relief.
“After a week when we learned the economy has flatlined over the last nine months, these figures are another embarrassing setback for the Chancellor,” said Balls, reported the Daily Telegraph.
The Treasury said it was improving the scheme to ensure it was better used.