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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.” quote by Grant Shapps
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“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.”

Grant Shapps

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.

Key Takeaway

Consider tax relief for small businesses.

Themes

economics employment policy

Mood

analytical concerned

Type

policy economic

When to use this quote

  • small business financing
  • housing market
  • government budgeting

Key Concepts

tax policy unemployment financial stability

Questions to Reflect On

  • Is tax relief the most effective tool?
  • What alternative measures could help?
A Different Perspective

Tax cuts may reduce revenue for public services.

2.5 out of 5 (9 ratings)

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