Gary Neville criticized Labour's increase in employer national insurance, warning it could deter companies from hiring and worsen economic conditions. He believes the timing of the £25 billion tax hike is poor, especially in the current fragile economy. While he supports raising the minimum wage, he feels businesses face significant pressures. Neville had expected stability after Labour's election victory, but he observes ongoing instability in the economy globally. He aligns with concerns from other entrepreneurs about the impact of increased employment costs on recruitment and growth.
I honestly don't believe that companies and small businesses should be deterred from employing people. The national insurance rise was one that could have been held back, particularly given the state of the economy.
It's been a tough economy for a good few years. I thought that once there was a change of government, we would see things settle. But it's not settling here - and, to be fair, it's not settling in many parts of the world either.
I don't think we can ever criticise the government for increasing the minimum wage. People should be paid more. But the national insurance rise is a challenge.
It's tough. It's really, really tough.
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