Starting in April, the UK government plans to raise employer National Insurance Contributions from 13.8% to 15%, projected to generate an additional £25 billion. However, this increase is critiqued as a punitive tax on jobs that will push companies toward layoffs, hiring freezes, or even closures. Businesses already strained by rising costs are warning that they must make difficult choices, which may include a shift to informal employment practices to mitigate the impact. Critics argue that this will exacerbate the black economy and ultimately harm the workforce and tax revenues.
Employers across the UK are already warning that this increase will force them to make some tough decisions. Many are halting recruitment, cutting back staff hours, or reducing their workforce entirely.
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