Costs of the budget on employment next April.

[TOPGUN749]

Someone employed for 160 hours a month now on minimum wage costs £1830 + £144.49 National Insurance.

Next April the same hours will cost employers £1953+£230.53 National Insurance.

10.6% extra to find each month,I’m thinking there is going to be significant price increases,as employers can’t or-won’t absorb this.Will we get interest rates going back up again to control the inevitable inflation?
59% extra Employer’s National Insurance contributions for the same job!!

Edited November 25 by TOPGUN749

[Weihrauch17]

35 minutes ago, TOPGUN749 said:

Someone employed for 160 hours a month now on minimum wage costs £1830 + £144.49 National Insurance.

Next April the same hours will cost employers £1953+£230.53 National Insurance.

10.6% extra to find each month,I’m thinking there is going to be significant price increases,as employers can’t or-won’t absorb this.Will we get interest rates going back up again to control the inevitable inflation?

That can't be right, RR told the CBI today that her budget would increase jobs and drive growth 🤣  She is totally and utterly inept.

[Yellow Bear]

7 minutes ago, Weihrauch17 said:

That can't be right, RR told the CBI today that her budget would increase jobs and drive growth 🤣  She is totally and utterly inept.

If she is talking about public sector she is probably correct although it is the last thing we need.  Inept is putting a positive spin on it

[old man]

Good to know to RR has as good a knowledge about economics as her employment history?

Good to know our future is in such august hands?