Tax costs jobs

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Social care tax rise puts 50,000 jobs at risk – FSBThe Federation of Small Businesses has warned that the total annual cost of the rise in National Insurance to small businesses would be about £5.7bn, and put more than 50,000 jobs are at risk. FSB national chair Mike Cherry described the policy as a “regressive jobs tax hike that will put jobs at risk, stifle start-ups and prevent new jobs from being created”. He went on: “Combined with other rising employment costs – and firms having to make tough decisions about the futures of those who have been supported by the job retention scheme – that 50,000 figure could easily end up being a good deal greater.”

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