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High street 'under pressure' by National Insurance and minimum wage increase

  • Employer NICs increased from 13.8% to 15% recently, impacting businesses, especially local manufacturers.
  • Chancellor Rachel Reeves announced the change in the Autumn Budget, also lowering the contribution threshold.
  • The NICs change affects approximately 940,000 employers, while some may see reductions or no change.
  • Edge Innovate CEO Darragh Cullen stated the NICs increase will cost his firm £380,000 annually.
  • Firms are adjusting employee benefits and leveraging technology to manage rising costs, potentially impacting wellbeing.
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headlinemoney.co.uk broke the news in on Monday, April 7, 2025.
Sources are mostly out of United Kingdom (2)

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