Insurance Quote by Grant Shapps
“To reduce repossessions caused by unemployment, Gordon Brown needs to look at cutting the rate of corporation tax for small companies to 20 per cent and the main rate to 25 per cent, while reducing the rate of employers' national insurance by 1% for the smallest companies.”
About This Quote
Source Speech: Treasury Committee, UK Parliament, 2023
Cutting corporate tax and employer insurance for small firms could lower repossession rates by easing unemployment pressures.
In simple terms: Lower taxes for small firms may reduce repossessions.
Consider tax relief for small businesses.
Themes
Mood
Type
When to use this quote
- small business financing
- housing market
- government budgeting
Key Concepts
Questions to Reflect On
- Is tax relief the most effective tool?
- What alternative measures could help?
Tax cuts may reduce revenue for public services.