Business leaders are calling for a reduction in USC, emphasizing that recent wage inflation greatly burdens sectors like retail and hospitality, particularly for part-time and minimum wage workers. They believe that while the abolition of USC would be ideal, even a modest 1% or 2% decrease would significantly alleviate the rising employment costs.
The feedback from various sectors suggests a strong desire for policy measures that directly address current inflation pressures. Many business leaders feel that minimizing the cost of employment is vital for sustaining their operations and protecting jobs.
A consistent theme among the responses from business leaders is the critical impact of wage inflation on their workforces. This highlights a broader economic issue that requires urgent attention from the government, especially in terms of fiscal policies and labor costs.
Leaders from diverse industries are united in their request for fiscal relief, stressing that timely measures can help stabilize their businesses and support more significant job retention amidst challenging economic conditions.
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