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NI holiday fails
A £1bn scheme to encourage businesses to expand has been declared a “total flop” as it emerged it had cost more to run than it delivered in additional growth.
The National Insurance holiday scheme established by the Government last year with the aim of helping create 400,000 new businesses within three years has so far helped only 5,137 companies, according to analysis by Labour.
Ed Balls, the Shadow Chancellor, said the review of the scheme’s work so far showed the added benefit it had provided totalled just £10.3m, £1.7m less than the cost of running the scheme.
This article appeared in The Telegraph 31st July 2011.
About the author
12 March 2020
One ought never to turn one's back on a threatened danger and try to run away from it. If you do that, you will double the danger. But if you meet it promptly and without flinching you will reduce the danger by half
Failure can be a positive experience. It is, in a sense, the highway to success. Every fresh experience points out some form of error which we shall afterwards carefully avoid.
I am not discouraged, because every wrong attempt discarded is another step forward.
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