#uk-economy

#uk-economy

The impact of Labour's decision to increase the living wage and employer NICs is already having a profound impact on UK businesses, especially small businesses that cannot easily absorb increased staffing costs. What's really apparent here is that these increases and the subsequent redundancies came relatively out of the blue. There was little in the way of prior warning.

British Steel's recruitment drive for 180 new roles highlights a positive turn for the company following government intervention, stabilizing its operations and protecting jobs.

If the UK's duty exemption for Low Value Imports is abolished, it would mean a pair of trainers costing £135 would be hit with the UK's full Customs duty for trainers, which is 16%. This could raise their final cost to the shopper to around £156 - a £21 increase.

For Nadine Maggi, founder of Sweet Freedom, the new charge is the final straw in what she describes as the toughest trading environment she has seen in 15 years.

If recession is next in a line of challenges for British Business, alongside a heavier tax burden and a decline in investor and lending confidence, we may be hurtling towards a new wave of business insolvencies.

Kemi Badenoch, unconcerned by economic issues, focused her energy on the culture war, particularly on sex and gender, showcasing her commitment to these divisive topics.

"Last year, many regions across the UK experienced a significant number of business closures, reflecting broader economic challenges."

‘The current form of the Employment Rights Bill may undermine growth and employment, especially at a crucial time for the UK's economy,’ the groups cautioned.