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Budget winners and losers: Self employed small businesses to lose out, higher rate tax payers to gain

by jackdavies on 8 March, 2017

The latest Conservative budget will hit hard working self employed people hardest, whilst putting a little more in the pocket of higher rate tax payers.

Analysis of Conservative plans to hike National Insurance Contributions has lead experts to believe that small business owners could suffer severely. Many small business owners have reacted angrily to the announcement, which breaks a promise made by the Conservatives in their 2015 manifesto.

Under the new plans small business owners and the self-employed stand to lose £193 by next year in National Insurance charges and up to £600 a year in lost business rate relief.

“Small and medium sized businesses are the lifeblood of our local economy. They need support, particularly when they’re starting out”

“Small businesses deserve our support to grow. I think the Chancellor’s got his priorities wrong today.”

“This is a bitter pill to swallow” stated small business owner Charles from Manchester.

“As a recent start up with no staff my business is a constant balancing act”

“Like many small business I have to compete with multi national companies, but when it has the choice this government always helps them and not me.”

“My costs have already gone up from Brexit. Is it too much to ask for the government to work on our side for a change?”

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