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Cameron calls for national insurance cut

Oct 20 2008

Conservative leader David Cameron has called for a 1p cut in national insurance contributions from small firms, which could save them £600 per year.

The politician says cutting costs for small firms will aid the economy more than current plans from the government to put money into public works.

Cameron proposes the cut for businesses of four employees or less saying it should last for six months.

The Tory leader claims it could stop many firms from 'going to the wall', saying they need help.

Cameron tells BBC Radio 4's Today programme: 'To stop a downturn turning not just into a recession but a slump, we must save small businesses.'

Also in the plans to help small companies is a six-month VAT holiday and a call for local authorities to reduce the timeframe in which they pay these firms, from 30 to 20 days.

Cameron also says the government should reduce interest rates which, in turn, would reduce people's mortgage repayments.

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