Tough Budget for businesses bracing for higher costs

Click to read the article in full.  

Following an Autumn Budget that saw employer National Insurance contributions rise to 15% from next April, the threshold for payment fall from £9, 100 to £5, 000 and National Minimum Wage increases, East Midlands Chamber has given its reaction.

Director of Policy and Insight Richard Blackmore said: “This was a tough budget for business where the rise in employer National Insurance contributions will add significant pressure at the worst possible time.  This falls right on top of a ton of challenges firms have been facing – the cost of doing business crisis, high utility costs, pressure to raise prices while remaining competitive and the difficulties in recruiting staff with skills that match their needs.  With headwinds already hampering businesses, to now have to foot additional staffing cost could lead to

 link source - East Midlands Chamber https://www.emc-dnl.co.uk/wp-content/uploads/2024/10/iStock-1161443097.jpg

Continue reading this article at the original source Here