Kamala Harris

Joe Biden

Dean Phillips

Marianne Williamson

Donald Trump

Vivek Ramaswamy

Nikki Haley

Ron DeSantis

Cornel West

Robert F. Kennedy

2024 United States Presidential Election

Overhauling workers' rights could cost businesses around £5bn a year, the government has said. The Employment Rights Bill, which aims to tackle low pay and poor working conditions, was debated by MPs on Monday evening and passed its second reading by 386 votes to 105.

tag:reuters.com,2021:binary_RC23XP99ASIC-BASEIMAGE

Financial Times

London

Greater London

England

United Kingdom

UK workers’ rights reforms to cost businesses £5bn a year

Businesses will face additional costs over the measures which include boosts to sick pay and unfair dismissal rights.

Ad Fontes Media

All Sides

Media Bias/Fact Check

BBC News

Government of the United Kingdom

New workers' rights will cost firms £5bn a year, government says

The legislation will have a greater impact on small businesses, the impact assessment warns

The Independent

Evgeny Lebedev

Labour worker’s bill to cost business up to £5bn a year, government analysis warns

LABOUR’S worker reforms will cost business £5billion a year and raise the risk of higher prices and job losses, the Government’s analysis shows.N

The Sun

Murdoch family

Labour’s worker reforms 'will cost firms £5bn a year & risk job losses'

Government’s own impact assessment predicts businesses may be forced to raise prices and cut wages

The Telegraph

Press Holdings

David and Frederick Barclay

Rayner’s workers’ rights overhaul to cost employers up to £5bn a year

The government's own impact assessment warns businesses could rack up administrative and compliance costs by adjusting to the new package of reforms.

Sky News UK

Roberts family

Labour's Employment Rights Bill could cost business up to £5bn a year, government analysis shows

The UK Labour government’s package of workers’ rights reforms could cost businesses as much as £4.5 billion ($5.9 billion) per year, with small firms disproportionately impacted, according to an economic analysis of the policy.

Bloomberg

Michael Bloomberg

The Vanguard Group

Howard Buffett

BlackRock

United States

UK Employment Reforms to Cost Firms Up to £4.5 Billion a Year

British businesses are set to face around £5bn in additional costs annually as a result of the new workers’ rights legislation, with smaller businesses in hospitality and retail set to be hit the hardest. As set out in a newly released economic analysis by the government, the new policies within the Employment Rights Bill will hit businesses’ pockets. Earlier this month, Labour revealed their package of employment reform, which included 28 indiv…

City AM

Workers' rights reform set to slap British businesses with £5bn bill

Government’s impact assessment finds companies will face bill for implementing new policies

Nikkei Inc.

Labour’s new plan for workers’ rights will cost businesses £5bn a year, according to government analysis released yesterday. This great news, because it suggest that workers’ rights are very cheap, and there is no reason not to legislate in favour of them. To put that £5bn into context, the UK’s 5.6 million private businesses had a total turnover of £4.48tn last year (this doesn’t include banks or insurance companies as their turnover isn’t comp…

New Statesman

How expensive are workers’ rights?

The government has finally published its economic analysis of the Employment Rights Bill. The report highlights some issues with the legislation and gives a go at calculating the significant costs to businesses and the taxpayer. From the outset it makes clear that extra dismissal protections may “make employers less willing to hire workers,” a distortion which could completely “offset the productivity gains from more efficient employer and emplo…

Guido Fawkes

Government’s Own Analysis Says Employment Bill to Have Low Impact on Growth and High Costs for Small Businesses

Labour's Employment Rights Bill could cost business up to £5bn a year, government analysis shows

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics