CENTRAL Devon MP Mel Stride has welcomed new figures showing that 1,700 businesses in his constituency and 80,000 across the whole of the South West are benefiting from the Government's Employment Allowance since its introduction in April.

The Employment Allowance is a reduction in National Insurance contributions that an employer pays for its employees. The allowance is worth up to £2,000 off the National Insurance bill of every employer and is open to businesses, charities and community amateur sports clubs.

The allowance means a business could now hire someone on £22,400 a year, or four people working full-time on the minimum wage, and not have to pay any employer National Insurance contributions. Within the first six months of its launch, over 850,000 employers across the country have benefitted from its introduction.

Hailing its impact Mr Stride said: 'This is exactly the kind of tax cut that small and medium sized businesses need to make it just a little easier to take on new staff.

'This will help businesses grow and help create jobs. I am delighted that 1,700 businesses in my constituency are already benefiting from the cut and encourage those not taking advantage of it to find out more.'