£25.6bn employment bill risks job creation and recovery

New research from the British Chambers of Commerce (BCC) reveals that upcoming employment regulations and taxes will cost UK businesses a staggering £25.6 billion over the next four years, which could adversely impact on future job creation.

Despite official unemployment figures likely to surpass 2.5 million, and companies continuing to struggle in difficult trading conditions, a blizzard of fresh red tape and taxes directly related to employment are planned between April 2010 to April 2014 – with no less than eight major changes in 2011 alone.

Over half – £14bn – of the £25.6bn comes from employer National Insurance contributions, which will see a 1% increase from April next year.

Read more: http://www.britishchambers.org.uk/zones/policy/press-releases_1/25-6bn-employment-bill-risks-job-creation-and-recovery-argues-bcc.html

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