Tax U-turn welcomed

BUSINESSES in the East Midlands have welcomed a Government U-turn on plans to increase tax for self-employed workers.

Chancellor Philip Hammond dropped his controversial decision to raise National Insurance following a political backlash from some Conservative backbench MPs, who accused him of breaking a general election pledge.

Scott Knowles, chief executive at East Midlands Chamber, said the reversal is good for business and the economy.

He added: “At a time when UK business needs to be encouraging entrepreneurialism, the NI increase was seen to do exactly the opposite and it’s good for the self-employed, for the economy and for UK plc that Mr Hammond has reversed his decision.”