News1 min ago
Employers' National Insurance Hike To Raise £20Bn
//The chancellor is set to increase the National Insurance rate for employers to boost funding for public services including the NHS.
Rachel Reeves is also expected to use Wednesday's Budget to lower the threshold for when employers start paying the tax - with the two measures combined to raise about £20bn.//
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Cue job losses and a reluctance to invest. Clever!
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With regard to the OP, it reminds me of the Harold Wilson brainwave in the mid-60's when he introduced something called Selective Employment Tax (SET).
This was going to raise billions, and was a tax based on the number of employees at each company, so, the more employees, the more tax revenue. Simples!
Cue mass redundancies and increased unemployment. I think we've been here before. And it aint looking good.
No one likes increased costs of any kind, but sitting back and doing nothing is not an option. In any case for the last few years some people have been working for peanuts zero contracts and all that jazz, plus government have been paying out millions in topping up poor wages with benefits for this and that, it can't continue that way.
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