Closing post
Time to wrap up… here are today’s main stories:
UK employer national insurance hike threatens jobs and pay rises, firms warn
British employers have warned that a rise in employer national insurance contributions in the budget could hit hiring and limit pay rises, hurting businesses including pubs, hotels and restaurants.
Keir Starmer and the chancellor, Rachel Reeves, have refused to rule out a rise in employer contributions in the budget on 30 October, as part of plans to plug what the government says is a £22bn hole in the public finances left by the previous Conservative government.
The head of UK Hospitality, which represents bars, pubs, restaurants and hotels, said such a move would be a tax on jobs.
“An increase would particularly hammer sectors like hospitality, where staffing costs are the biggest business expense,” said Kate Nicholls, the group’s chief executive.
“Hospitality businesses are much less able to stomach yet another cost increase, when they’re already managing increases in other areas like wages, food, drink and energy.”
