July 7, 2022

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Nationwide Insurance coverage hike sparks mass layoffs as Rishi Sunak's tax seize backfires

Specifically the agency factors to April’s Nationwide Insurance coverage hike as an additional blow to shoppers’ disposable earnings.

Whereas Nationwide Insurance coverage will squeeze family earnings, it additionally provides to wage payments for stretched employers already having to funds for an increase within the minimal wage.

Consequently, the development of rising numbers of deliberate redundancies might proceed with plans for enlargement additionally placed on maintain.

Chancellor Rishi Sunak has already skilled widespread criticism for the timing of the hike, with disappointment {that a} delay wasn’t introduced on the Spring Assertion.

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