The government’s Emergency Budget, has been widely criticized by the small business and company formation sector, for not doing enough to help the enterprise in the UK.
In the context of all this negative feedback the government made a concession to the small business sector, by implementing a policy which would make all companies with five employees or less exempt from having to pay into a pension scheme.
However, a recent statement from the Confederation of British Industry claims that no business, regardless of the size, should allowed not paying into a pension schemes.
Caroline Hill, from the CBI, comments; “The fact is it is important that we do not take a step back in terms of pension reform. That being said, the government need to support small businesses in terms of making pension schemes easy to manage.”