Employers' Ni - Again

[Deskdiary]

The UKs largest retailers are signatories to a letter to Reeves in part of which they state "The sheer scale of new costs and the speed with which they occur create a cumulative burden that will make job losses inevitable, and higher prices a certainty."

 

https://www.bbc.co.uk/news/articles/cp816jrnynyo

 

In recent posts on this board we've had comments such as "greatest budget ever" somewhat naively "I think people are making a massive stink over the NI contributions" and numerous others comments lauding what was clearly an anti-growth budget.

 

Given heavy hitters have spelled-out this budget will cause job losses and increase prices, what are the chances of this shambles of a Government u-turning on their disastrous policies?

[Cloverjo]

I don't think they will U turn. Starmer and Reeves seem hell bent on blundering through the economy, wrecking everything. 
 

I voted for them. I'm very disappointed with what they're doing. 

[davebro3]

We won't increase your taxes but we'll introduce policies that will: cut your wages, put up prices, increase your mortgage costs, maybe lose you your job. Enjoy.

Glad you voted Labour now?

[naomi24]

They won't u-turn.  They're just hell bent on raking in money from whatever source they see as available.  They don't understand how money works to generate growth, wealth and stability and they don't understand business.  With people such as these at the helm this country is on a path to ruin - and at this rate it won't take long.

[gramps85]

No doubt the usual defenders of Starmer will quote the same old mantra, such as, Black Hole (proved to be a figment of Reeves imagination), Fixing The Broken Economy, Putting Right 14 Years Of Tory Incompetence etc etc, without realising the damage that is being inflicted on Businesses, Farmers and Self Employed. Do they not realise that once they have put a business out of business there is no going back.

In todays news there are reports of Mortages going up, due to the Budget, as well as everything else going up while industry tries to cover the extra expense of increase in NI and the minimum wage.  Every citizen in this country will be impacted by this Governments current policies.

[bhg481]

Ah yes but they'll have repaired all the potholes so the roads will be safer. It's just a pity you won't be able to afford to run a car so you won't be able to take advantage of all the improvements.

[gramps85]

I should have added that while all of this is happening Starmer is jetting all over the world, doing who knows what? He should be here at home fixing the mess he has created.

[naomi24]

He's busy promoting himself.  

[Omg21]

A relative works for a large company.  Staff have already been told that redundancies will happen as the budget will add hundreds of thousands to the wage bill.   They have asked staff to volunteer initially but obviously then it will be compulsory redundancies.

[barry1010]

Mortgage rates going up but savers' interest rates going down.  How does that work?

My butcher had bought the vacant shop next door so he could extend his business.  He is having second thoughts as the overheads and employee costs would be far greater than he planned for.

[gramps85]

omg21 I am a school governor for a large school, and regretably we have had to draw up contigency plans for teacher redundancies.  Our business manager is frantically trying to balance the books to prevent loss of staff. Any such loss will have a damaging affect on the education of our children.

[ToraToraTora]

Naomi: "They won't u-turn.  They're just hell bent on raking in money from whatever source they see as available." - well that's their plan but their junior school tuck shop economics is likely to reduce tax receipts over all. The ENI will cause unemployment and thus loss of employer tax contributions and will also increase the benefits bill when thousands are thrown onto the dole. The problem is Labour are clueless about how the economy works.

[ToraToraTora]

barry: "Mortgage rates going up but savers' interest rates going down.  How does that work?" - That generally means the banks think the BOE is wrong about the latest rate adjustment, they are anticipating rises so they are factoring that into their mortgage deals. Savings will go up when the base rate does.