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MP Fiona praises the Chancellor’s support for small businesses
2:11pm Friday 13th December 2013 in News
A HOLMES Chapel MP has praised the Chancellor of the Exchequer’s Autumn Statement for showing support to small businesses.
Fiona Bruce MP welcomed Tatton MP George Osborne’s statement, telling the House of Commons the extension of the small business rate relief shows Britain is ‘very much open for small business, too’.
“This is positive news for businesses across my constituency,” said the MP for the Congleton constituency.
“The employers National Insurance contribution saving of up to £2,000 is further good news, as is the Government’s support for young entrepreneurs setting up in business for the first time and the extension of rate relief for small businesses.
“Representing a constituency where almost all of the 4,000 businesses are small and medium-sized enterprises, who are the engine of our local economy and our job creators, it is critically important that every possible support is given to them.
“The Chancellor’s statement was positive news for them and properly acknowledged their hard work and contribution.”
Mr Osborne labelled Mrs Bruce a ‘champion’ of small businesses during the debate.
“I am delighted that the change that we have brought about today with a £1,000 discount for shops and high streets will mean that in Congleton, Holmes Chapel and Middlewich, the people whom she represents will get a better deal,” he said.
However, pension expert at Duncan Lawrie Private Bank Chris Masley questioned the increase in retirement age announced in the statement, saying 27 per cent of people believe they will not realistically be able to retire until 70 or over.
“A generation of young workers will no doubt be asking themselves how this is a fair deal for them,” he said.
“They will have to work longer and harder for a state pension that is still falling in real terms, many will have already given up hope of not having enough money for retirement.
“We should be encouraging young people to start thinking about their retirement plans early, but instead, as the age of state retirement drifts further away, people are increasingly choosing to not review their pension strategy until much later in life.
“The better mindset would be to start planning for retirement earlier, continue a strong commitment to it and maybe then people could aspire to finishing work at an appropriate age, or maybe even early.”
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