Budget Brings Incentive to Cornish Start Ups

In the 2010 Emergency Budget the Chancellor of the Exchequer, George Osborne, announced a tax break for new firms setting up in areas outside London, the South East and the East.  The tax break means that new Cornish companies will be exempt from paying National Insurance contributions on their first 10 employees. The measure is expected to cost around £900 million and be worth up to £50,000 for each business or £5000 per employee. 

Mr Osborne  also confirmed that the Government aims to have the scheme in place by September and that any qualifying new business set up from 22 June 2010 will receive help.

He added: "The Treasury estimate that some 400,000 businesses will benefit ensuring all parts of our country contribute to a more balanced and sustainable economic future."