Sole traders promised relief on insurance

The government has pledged to rule out one-man businesses from having to pay liability insurance.

The move is expected to save 300,000 companies about £250,000 a year and has been welcomed by small business groups.

Likewise the Department for Work and Pensions said it wanted the exemption made for other small businesses.

"I think this is duty done," said Stephen Alambritis, of the Federation of Small Business.

"It was nonsensical that sole trading companies had to pay an insurance aimed at businesses with pother employees.
We hope the minister won't just tick this one off now. Around 1.2 small employers face serious problems from employer's liability insurance."

The Liberal Democrats have said a third of businesses in the UK are now cutting investment as a result of steep premiums.

 

18th October 2004

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