Lucy Powell admitted the economy is "disappointing" and that the national insurance hike will have "consequences" for businesses, but insists it's necessary for helping the NHS.
Tom Barrett, financial wellbeing expert, warned that the Chancellor's national insurance hike could lead to job losses, prompting businesses to make difficult workforce decisions.
Powell emphasized the need for a "healthy economy and a healthy society," correlating the national insurance decision with addressing the seven million people awaiting operations.
She also stated, "We inherited this big black hole in the public finances," underscoring the government's challenge in rectifying economic foundations while considering long-term growth.
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