This budget brings another jobs tax on businesses that adds to the employment cost and will further hit hiring.
Organisations have already seen the cost of employment rise with increased employer NICs, and the measures announced today will simply increase those costs further.
With job creation well below pre-covid levels, this budget needed to incentivise businesses to hire – but this is simply adding more cost and risk.
We had hoped the government had learned their lesson with plenty of evidence that its last budget led to less hiring. Now they’re simply going back for more.
Job creation is the foundation for economic growth, and this budget – freezing NIC thresholds, reducing salary sacrifice allowances, increasing minimum wage, alongside the added risks brought by employee rights bill – does the exact opposite.
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