Bank of England chief warns businesses about a 1.2% national insurance hike, set to start in April 2023.

Bank of England Governor Andrew Bailey warns that the biggest concern post-budget is how businesses will react to a national insurance hike from 13.8% to 15%, starting April 2023. This increase could lead to higher costs for businesses, potentially passed on to employees and customers, causing uncertainty about its economic impact. Bailey also notes the unpredictable effects of US President Trump's proposed tariff increases.

December 04, 2024
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