Rupert Soames of the CBI warns that Labour's proposed employment rights reforms could harm business investment and recruitment, suggesting an additional £5 billion burden on companies. As the government aims to enhance productivity and growth through the Employment Rights Bill, many business leaders express concerns. Soames criticizes the increased complexities introduced by the reforms, particularly regarding measures that impact the majority of responsible employers to address issues among a minority. He emphasizes a potential contradiction to the government's competitiveness goals without course-correcting prior to royal assent.
Soames argues that while addressing abuses is necessary, penalizing the vast majority of responsible employers to catch a few bad actors is fundamentally flawed and damaging.
The proposed reforms could lead to an additional £5 billion cost for companies, which may dissuade them from hiring new staff and making capital investments.
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