CIPD survey: Chancellor’s job’s tax a “millstone around the neck” of the economy

Responding to a CIPD survey of UK employers that found that the rise in national insurance had prompted widespread plans to cut hiring and increase redundancies, Liberal Democrat Treasury spokesperson Daisy Cooper MP said:

“The Chancellor’s jobs tax is a millstone around the neck of our economy.

“Her misguided national insurance rise is clobbering small businesses and could end up costing people their livelihoods as companies scramble to cover the costs.

“The only way to see the back of the years of Conservative economic vandalism and rebuild our public services is through growth. That is why it is so baffling to see that the steps taken by the Chancellor have only acted as an anchor on our economy with frightening consequences.

“Rachel Reeves needs to scrap her damaging jobs tax and jettison her short-sighted red lines on a bespoke UK-EU customs union to turbocharge growth and protect family finances.”

ENDS