The Institute of Directors is lobbying the government for ‘targeted changes’ to the Employment Rights Bill to improve business confidence and reduce the tax burden
Minimum wage rises and a hike in employers’ National Insurance are due to come into force in April, creating concern across business and stalling growth plans. Office for National Statistics (ONS) data showed a decline in employment in December as a result of the Budget on 30 October.
Responses to an IoD survey conducted in January found declining levels of confidence, with businesses calling for a reduction in the tax burden as their major priority. Over 58% of the 687 respondents said this would improve confidence levels going forward.
However, it is unlikely this burden will reduce with employers’ National Insurance increasing to 15% from 1 April.
Analysis by financial services specialist Novuna has found that the hike in National Insurance could end up costing businesses 28bn a year, based on a conservative estimate, with the average increase per employee across all salary bands being 842. London businesses will end up paying the most on average, with an employee on the average salary in London costing 1,010 more over the year.
Housing Department clarifies online comments about interim housing units In response to netizens' comments on a social media platform about victims of the fire incident in Wang Fuk Court in Tai Po...