Warning 'pain' of tax hikes to hit jobs and pay rises

Quick Summary:

The chancellor says businesses will "contribute more" as she raises employer National Insurance to 15%.

But Reeves said the "only way" to drive growth was through investment, warning "there are no shortcuts"."We are asking business to contribute more," said Reeves."I know that there will be impacts of this measure felt beyond businesses.

Reeves said the rise in National Insurance hike was "difficult", but the right choice in order to fund public services.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Costs Budget Business Chancellor Reeves National Rises Insurance Firms Businesses

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 17:53:29 (1 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 1016 words

Reading Time: 6 minutes read

Sentences: 35 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 23341264

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

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Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 16 hours ago

Coverage Areas: United Kingdom

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Publisher ID: #43

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