0-300,000 21%

300,001-1,500,000 marginal relief (it depends)

1,500,001 28%

changed to

0-300,000 20%

300,001 – 1,500,000 marginal relief (it depends)

1,500,001 – 3m 26%

over 3m 32%

This is in order to reduce unemployment, cause growth and reduce the deficit

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Answer:As well as what you've mentioned, they've also excempt any new small business that opens up outside the south east from paying employer NI for their first 10 employees for the first year of operation and they've also set up a £1 billion region growth fund so in theory it all should work but in practice it remains to be seen to what extent it works.

They did something similar in Singapore which worked wonders.

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