- Aug 8, 2005
- 27,350
As a result of the announcements in the budget most companies will have done some or all of the following:
Cut back the planned pay increase
Increased prices to customers
Cut back additional recruitment
I am sure that in large companies at least this will be happening across the board leading to higher unemployment, inflation and poor economic growth.
A smaller business, sole trader, may take the view that they absorb the extra National Insurance and suffer more themselves, but in the big corporate world that isn't an option. That's your problem.That's what a good Government would have realised and not done this.
The Ers National Insurance increase was foolish. They'd have actually been better putting it on corporation tax.
It was a poor budget and this is now being proven out.
Cut back the planned pay increase
Increased prices to customers
Cut back additional recruitment
I am sure that in large companies at least this will be happening across the board leading to higher unemployment, inflation and poor economic growth.
A smaller business, sole trader, may take the view that they absorb the extra National Insurance and suffer more themselves, but in the big corporate world that isn't an option. That's your problem.That's what a good Government would have realised and not done this.
The Ers National Insurance increase was foolish. They'd have actually been better putting it on corporation tax.
It was a poor budget and this is now being proven out.
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