Michael Kill, CEO of the NTIA, stated, "While the minimum wage increase is designed to provide financial relief, our recent survey reveals significant concerns from businesses, employees, and consumers within the night time economy. Rising living costs, coupled with increasing pressures on businesses, mean the intended benefits risk being overshadowed by mounting challenges."
Kill further emphasized that "Today's damning report from KPMG, showing job vacancies have seen their sharpest fall in four years following the Chancellor's Budget tax raid on businesses, substantiates the findings of our survey. These developments highlight the real and growing concerns for businesses struggling to stay afloat, employees facing uncertainty, and consumers feeling the squeeze."
He concluded, "Policymakers must urgently address these issues and provide targeted support to ensure the resilience of this vital sector amid ongoing economic shifts."
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