#business-costs

#business-costs

A series of concessions on Labour's flagship workers' rights reforms will save businesses billions of pounds, a government impact assessment shows. An initial analysis by officials found that implementing the party's measures to bolster workers' rights would cost firms up to 5bn a year. However, an updated analysis on Wednesday, which accounted for major concessions made by ministers, said it will now cost companies 1bn a year.

She will argue that eight in ten firms believe the legislation, in its current form, will make hiring harder, acting as a brake on economic growth. "Lasting reform takes partnership, not a closed door," she will say. "When eight in ten firms say this bill will make it harder to hire, they are brakes on growth. The government must change course and ask business and unions to forge consensus through compromise."

James Fitzgerald, landlord of the Thatched House in Hammersmith, said his costs have risen by 22,000 over the past year - with the increase in National Insurance a major factor. He said he had already cut his own wage, reduced staff hours, and trimmed other running costs, and there was no more room to make savings. "If it goes up again, eventually I'll end up doing it for free and then I'll have to pull out. There's no way to survive."

Elon Musk has noted that he is in the U.S. because of the H-1B visa. I came to the U.S. on one, too. So did Melania Trump. Odds are high that none of us would have been able to work here, had it cost our employers $100,000 a pop. Donald Trump's decision to dramatically raise the cost of this key visa for foreign workers caused chaos over the weekend, followed by mild relief that existing holders are exempt.