Magazine article Public Finance

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Magazine article Public Finance

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Open for business

* I was pleased to hear the government scrapped plans to introduce an ill-judged rise in national insurance contributions for self-employed people.

The proposal would have had a particularly harmful impact in Birmingham, which has a vibrant, fast-growing small business sector.

Some 17,473 new businesses were registered in the city in 2016, a rise of 25% on the previous year; there are almost 114,000 self-employed people in Greater Birmingham and Solihull. Birmingham has been named the UK's most entrepreneurial city for four successive years, with more start-up businesses than anywhere else outside London.

The NI rise would have hit the risk-takers who set up businesses and create jobs - entrepreneurs who work hard and strike out on their own. T ere was a very real risk that increasing NICs would have backfi red, with fewer small businesses being set up and fewer jobs coming on line.

John Clancy

Leader, Birmingham City Council

Hypothecated tax never works

* This shambles over business rates revaluation neatly illustrates why hypothecated taxation is always, always a thoroughly bad idea. …

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