Firms faced with ‘unsustainable’ costs
Businesses are facing "unsustainable" costs as a result of government measures to increase pay, fund apprenticeships and ensure workers save adequate funds for their retirement, according to the British Chambers of Commerce. The organisation’s annual workforce survey of 1,400 companies found three-quarters reported rising costs from pensions auto-enrolment, while half said they had been affected by the rise in the national living wage. One-fifth of businesses cited the apprenticeship levy, and 8% said the immigration skills charge had increased costs. A quarter of businesses said they would respond to future planned increases to the national living wage by slowing pay rises and reducing staff benefits.
The Independent (25/08)