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Posted by Archi on 13/10/2024, 19:12:35
employer NI payment increases will likely cause redundancies. That's fine, but what do others think?
It's funny how political posts have been routinely deleted since we've had a Labour govt. Don't remember that being the policy when the Tories were in power.
Hmmmmm. Always interests me this discussion about taxation and wages for businesses. I get that the more businesses are taxed is likely to result in fewer people being employed and with lower wages because money only goes so far and it's always most stark in small businesses.
However, if you pay people a crap wage expect them to do a crap job, have no pride in their employment or company - in fact possibly resent them, struggle with employment retention, and generally have a poor working environment with low productivity. Whereas a well treated employee is likely to be the exact opposite and really wanting the business to succeed. It's a complete false economy penny pinching to pay staff poorly especially when the senior management award themselves wage increases and bonuses - which the lower paid staff have worked hard to create.
In know this about NI contributions but employment is a direct consequence.
Having employed people in the past..the more your fixed costs increase the less you are able to pay in salaries..so if ni employer contribution increase..then there is a good chance hourly rates will not be increased..
It's a complete false economy penny pinching to pay staff poorly especially when the senior management award themselves wage increases and bonuses - which the lower paid staff have worked hard to create.
This is more likely to be true in bigger businesses than very small ones (one or two employees). I know of several businesses where the owner of the business gets less money (and works longer hours) than their staff just to keep the business going.
In the main, very small businesses wouldn't be affected by an increase in NI(er) as Employment Allowance means that they don't pay up to £5000 of NI(er) although this doesn't apply to companies with a single director who is the only employee paying NI. Obviously, if the increase takes the form of a reduction in (or the abolition of) Employment Allowance, small businesses would be hardest hit.
I don't really know about the whole NI and how it affects business other than it clearly is an additional cost which has to be paid out somehow which, in turn, has a knock-on effect for finance that affects things like employment. I guess it also depends on the specific business as well and I don't doubt that what you cite about some small businesses is correct but I also know the opposite is true too from people who've told me about their work situation.
In relation to bigger business when I was a bus driver the turnover of staff was very high, morale was low, pride in the job was almost zero because of the poor pay and working conditions whereby, for example, when a new pay deal was on the table they give an increase in hourly wage but reduce things like signing off time so that instead of being on the clock still whilst queuing for the bus wash at the end of the shift, that time was cut resulting in some employees would just leave their bus in the queue when their shift end time had come and walked off causing absolute chaos.
I guess what I'm really saying is that management shouldn't expect staff to have reduced pay and conditions unless they are themselves.
One of the problems is that Governments (whatever party they are) have so many reshuffles of the cabinet that you are bound to end up with people in jobs that they don't have the background knowledge and experience for.
...or a Chancellor who claims accountancy fees for getting someone else to fill in her tax return (although I must add that some other MPs also claim for this)
The issue is that the last government “got away” with taxing people properly less to try to win their votes. Less tax means less income from taxes and less money for the NHS and government bodies.
Doctors were one of the obvious victims of that, the view being that they are already pretty well paid or will be further down the time and they can take the hit.
Quite rightly the Doctors said enough is enough.
Labour are just trying to fix a problem squarely of the Tory government’s making.
But I guess “Bloke” would expect everything for free because we are British or because we had the Magna Carta.
Better let Wiki know they're wrong then and if you believe Thatcher came to power in "a time of unrivalled economic growth" might I suggest you do a little research or talk to someone who lived through the 70s.
"In 1971 the top rate of income tax on earned income was cut to 75%. A surcharge of 15% kept the top rate on investment income at 90%. In 1974 the cut was partly reversed and the top rate on earned income was raised to 83%. With the investment income surcharge, this raised the top rate on investment income to 98% – the highest permanent rate since the war.[citation needed] This applied to incomes over £20,000 (equivalent to £263,269 in 2023).[7]"
Spin dr ? haha they are just idiots with a moron in charge , JC would have been a better leader. Even the union recognise they are clueless. Another 4 years will be if painful if they go the distance.
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