Marie Cooper, owner of CBE+, stated that her business will face an additional £30,000 in national insurance contributions due to the tax increases outlined in Reeves's budget.
The chancellor announced a tough budget for businesses, focused on raising taxes to fund significant state spending, leading many in UK industry to express concern.
Shevaun Haviland from the British Chambers of Commerce remarked that the rise in employer national insurance contributions coupled with increased living wage poses challenges for firms.
Despite the tough tax environment, the doubling of the employment allowance to £10,500 was welcomed as it allows smaller businesses to mitigate their national insurance liabilities.
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