"In some cases, some of my companies might not survive next year," he told ministers, citing concerns over the additional costs and complexities the legislation could impose on SMEs.
Johnson argued that the combination of higher taxes and increased regulatory burdens could overwhelm smaller businesses, highlighting the difficulty for those without extensive HR departments to manage new regulations.
He emphasised that the timing of the Employment Rights Bill was 'beyond belief,' particularly following recent tax increases, potentially leading to a surge in company collapses.
The government's impact assessment suggests that the reforms could cost businesses up to £4.5 billion, raising concerns about hiring practices among business leaders.
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