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.
14 Articles
14 Articles
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