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  1. National

Small businesses won't pay NI

Around 450,000 small businesses - a third of all employers - will pay no employer National Insurance next year and corporation tax will be cut by 1% by 2015, George Osborne has announced.

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  1. Laura Kuenssberg

Businesses will be pleased with national insurance cut

Money from changes to the pension system will be used to cut national insurance bills for small firms - they won't pay anything under £2,000.

Right now, firms pay roughly £500 a year for each employee on minimum wage in terms of national insurance.

These businesses will be pleased.

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