Small and medium-sized businesses, from tech start-ups to hairdressers and cafes, in Hinckley and Bosworth will pay an extra £4.3million a year due to the rise in national insurance, research commissioned by the Liberal Democrats has found.
Boris Johnson broke his 2019 manifesto promise by raising employer National Insurance Contributions by 1.25%, impacting small businesses in Hinckley and Bosworth and across the country. House of Commons Library research has detailed the impact of the tax rises, and it is estimated that the average micro-business employing up to nine people will pay more than £1,000 extra a year as a result of the tax hike.
In Hinckley and Bosworth small businesses face an extra £4.3million national insurance rise per year once the tax hikes come into place next year.
Ahead of the budget, the Liberal Democrats are calling for small businesses to be offered a lifeline by slashing their employer's national insurance contributions instead of raising them.
Under the party's proposals, the Employment Allowance would be quadrupled from £4,000 to £16,000 for at least two years, meaning taxes on small businesses would be slashed by £5.5 billion across the country next year.
Councillor Michael Mullaney Liberal DemocratParliamentary Spokesperson for Hinckley and Bosworth said:
"The Government's broken manifesto promise will create a £4.3million tax bombshell for small businesses in our local community.
"Small businesses have been hit hard by the pandemic and our high streets have been struggling for years. The last thing businesses in Hinckley and Bosworth need right now are damaging tax rises.
"Hinckley and Bosworth's Liberal Democrats are calling for a tax cut for local entrepreneurs and business owners, to help them create jobs and drive our economic recovery."
Christine Jardine MP, Liberal Democrat spokesperson for the Treasury, commented on the findings:
"We have already lost far too many treasured shops from our high streets, and too many businesses are drowning in tax rises and red tape.
"Rishi Sunak must give small businesses the chance to grow again instead of clobbering them with a crippling tax rise.
"The Chancellor is out of touch with small businesses and if he truly cared about their survival, he would cancel this tax hike immediately."
I/We demand Leicestershire County Council and Bloors Housing reconsider their decision to allow the B582 to be closed for 12 days.
With this closure in place the villages of Newbold Verdon, Barlestone and Newbold Heath will be faced with significant diversions which will result in school children, workers and ordinary residents being cut off from essential services such as schools, doctors, and local shops. In addition to this the roads are a dedicated lorry route and as such there is a likelihood that some HGV's will try to take short cuts through the villages even though there are weight limits.
Hinckley and Bosworth Borough Council have tonight passed a motion calling on the government to drop plans to remove the Universal Credit uplift which will affect thousands of local families.
Proposing the motion was Hinckley Lib Dem Councillor Michael Mullaney. Michael said "If the government goes ahead and removes the Universal Credit uplift it will see a £20 a week reduction in the income of nearly 7,000 families here in Hinckley and Bosworth.
Hinckley and Bosworth Liberal Democrats have called on the Government to double the Warm Home Discount for existing recipients and make it available to 437 extra pensioners across Hinckley and Bosworth. The measure would prevent pensioners being forced to "choose between eating and heating this winter", say the Lib Dems.
Leicestershire County Council has given it's unanimous backing to a campaign by Cancer Research UK to increase funding for public health prevention services.
A motion proposed by leader of Leicestershire Lib Dems Councillor Michael Mullaney calling for support for the campaign got support from all parties. Michael Mullaney said "Almost every family in Leicestershire will have been affected by cancer. Each year around 4,000 people in the county develop cancer and sadly around 2,000 die from it.
Hinckley Liberal Democrat councillors have joined over 120,000 people in signing a petition calling for the saving of Bank branches. They are urging residents who live in the area who support the campaign to add their names to the petition.
The petition to the Chancellor Rishi Sunak calls on the government to take action to stop more bank branch closures and cash point removals.
Parents of 15,281 children in Hinckley and Bosworth would receive vouchers worth £200 a year to spend on catch-up classes and educational activities, under plans announced by the Liberal Democrats.
The policy would empower parents to help their children catch up after months of school closures and disruption during the pandemic. The vouchers could be spent on a range of activities including tutoring in reading, writing and maths, music lessons, swimming classes or other physical education.
Nearly 7,000 families here in Hinckley and Bosworth will be hit by the government's removal of the Universal Credit uplift on October the 6th.
This will see thousands of local families have their income cut by £20 a week. In response to this Hinckley and Bosworth Liberal Democrat Councillors have tabled a motion calling on the government to think again about their plans.
The Liberal Democrats have published figures showing that 22,270 State Pensioners here in Hinckley and Bosworth are set to be impacted by the government breaking its manifesto promise and suspending the triple lock on pensions.
The state pension triple lock is a rule that means the state pension must rise each year in line with the highest of three possible figures, inflation, average earnings or 2.5%.
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