UK businesses face a £2,300 rise per low-wage worker due to higher taxes and a new minimum wage.

UK businesses will see a significant increase of about £2,300 per low-wage worker this year due to higher national insurance rates and a rising minimum wage. This cost increase could make it more expensive for businesses to hire and retain low-paid workers, potentially leading to job losses, according to the Centre for Policy Studies. The national minimum wage will rise to £12.21 from April, with employer national insurance rates increasing to 15%.

January 03, 2025
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