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Monday, 19 April 2010

Volcanic Ash Costs Business Over £41 Million

The disruption caused by the volcanic ash has so far cost Greater Manchester businesses an estimated £41.5 million.

The figure comes on top of the £50 million lost by businesses as a result of the snow earlier this year.

Brian Sloan, Head of Business & Economic Policy at Greater Manchester Chamber, said: “Having suffered terribly at the start of the year with snow, businesses have once again been hit by a major disruption.

“We estimate that businesses will have suffered costs of £41.5 million by 1am on Tuesday morning, when UK airspace is due to reopen.

“However the cost of the snow and volcanic ash is still less than the £120 million a year that businesses would lose through the Government’s plan to put an extra 1% on Employer’s National Insurance next year.

“The Government needs to rethink this tax on jobs that is not based on the ability to pay and will divert investment funds away from the private job and wealth creating sector to the presently inefficient public sector.”

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