Jobs tax cut could lead to 6,000 new jobs – BDO
MORE than 6,000 new manufacturing jobs could be created in the North West if firms were given a temporary reduction in employers’ National Insurance (NI) when they take on new workers.
The figures come from accountancy and business advisory firm BDO, which is calling on political parties to show their support to manufacturers in the run-up to the May General Election.
BDO analysis found 6,195 new jobs could be created in the region in the next parliament if NI bosses must pay – known as “jobs tax” – was cut for a while.
The policy recommendation forms part of the BDO Mid-Market Manifesto, which lobbies for specific support for medium-sized businesses currently under-valued and overlooked by government policy.
Medium sized manufacturers alone would create more than a third (2,488) of the new jobs, given a reduction in NI, BDO says.
Partner and head of BDO in the North West, Tim Entwistle, said: “Manufacturing is a vital sector for the region and the UK as a whole, and it is the medium-sized businesses that provide us with the biggest untapped potential in both domestic and international markets.”
In the North West, medium-sized manufacturers already employ more than 177,000 people, generate £31.7bn in revenue and contribute £1.7bn to the region’s export value.
