Osborne plans employer tax cut to create jobs

Shadow Chancellor George Osborne today announced plans to create 60,000 new jobs at the start of a new Tory Government by cutting taxes on employment.

At the party's Manchester conference, he said: "Any new business created in the first two years of a Conservative Government will pay no tax on the new people they employ.

"We will waive employer national insurance on the first 10 people created in any new business.

"We reckon this will create 60,000 new jobs in the first period of a new Government."

The message would be: "Invest here, set up your business here, come and make your enterprise here and we will support you.

"We will send a message loud and clear that this country is open for business."

Mr Osborne said the tax cut would be funded by savings to be announced during the remainder of the conference. "It will be a huge boost to enterprise."