Looks Like the Budget’s About to Raise Employer Bills
The Business Secretary recently gave a subtle hint that the Autumn Budget might raise the national insurance (NI) rates that employers pay. If that comes to pass, companies could find their “bill‑fold” a little thinner than usual.
Shadow Cardboard Cheerleader Mel Stride Responds
When I asked Sky News for a reaction, Shadow Work and Pensions Secretary Mel Stride had a few sharp words to spit. She said Labour’s election pledge—“no extra taxes” – is a bit of a mental illusion. “They’ve boxed themselves in by jumping in for the general election and saying they’re not going to tax again,” she hissed.
Her hard truth: Labour’s choices are shrinking, and bumping up NI for employers is a “very bad tax” because it’s literally a tax on the jobs they’re trying to protect.
Why Raising NI Hits the Nail
- It’s a cost that employers feel directly, not something that trickles up to workers.
- It adds another layer of red tape for businesses, especially small firms.
- It dims any long‑term growth prospects by eating into profits.
The Bottom Line for Investors
With potential Labour actions and recent rate cuts looming, UK investors are on edge. The big worry is whether the new NI hikes will swallow investor confidence or simply sting a few salaries along the way.
Tories warn Labour has ‘opened the door’ to raise national insurance and tax
Jackson Mullins: “Labour’s Tax Riddle is More Like a Riddle”
Picture this: the Business Secretary pulls a foghorn on Labour’s promises about national insurance. It’s a bit like watching a dad confidently claim he can build a treehouse while the Wi‑Fi drops. Here’s the full scoop in a style that feels more like a friendly chat than a stiff memo.
Why Mullins is Not Minding the Party’s Manifesto
- “Totally counter to our pledge!” Mullins shot back that Labour’s vow not to hike national insurance is basically a line of dress rehearsal that will not carry through. He’s saying, “We promised no new taxes, but we’re about to dish out some deliciously nasty extra costs.”
- “If Labour raises employer national insurance, they’ll slow down economic growth.”
- £22 billion black hole argument: the new tax would swallow a mountain of money out of the public purse, sucking growth like a vacuum cleaner with a zero‑gravity twist.
Jonathan Reynolds Tries to Warm the Conversation
Mix in a kernel of truth: Labor’s pledge targets employees, not the employers. “They’re talking about taxes on working people,” Reynolds reminded Sky News. “But budget details—how that’s actually rolled out—will be the real test.”
What Happens Next?
Mullins refers to the upcoming budget as the real playbook, “the blueprint for growth.” He’s warning that Labour’s “tax on jobs” is a clutter on the road to productivity. The message? Keep the economy humming, not the tax man.
Thoughts Behind the Bold Claims
- Mullins perceives a national insurance hike as a direct drainer of the gig economy’s lifeblood.
- The conservative founding sure—that “black hole” is economical in an eye‑doloringly literal sense.
- Against the backdrop of promise‑centric politics, he sees the manifesto as ticking a checkbox rather than a fountain of opportunity.
Takeaway
It’s not just politics; it’s a recipe. Labour’s promise to no new taxes is being flipped, and Mullins calls the kettle hot—every one can see the “tax on jobs” is the mortgage of growth. The question is: will the budget be the final kicker or the new reality? Stay tuned, folks!
