Rachel Reeves’s decision to raise employer National Insurance contributions has officially kicked in today, and business leaders are already sounding the alarm over the potential fallout. The hike, which bumps contributions up from 13.8% to 15%, comes alongside a big drop in the payment threshold – from £9,100 to just £5,000. And for many employers already stretched thin, this latest move feels like another blow they can’t afford.
Ministers are warning that the changes, especially when combined with the recent 6.7% rise in the minimum wage, could push struggling businesses over the edge. Concerns are swirling around what this might mean for jobs, with fears that some roles could be cut altogether, according to the Express.
