A sharp rise in employers' National Insurance costs from Wednesday has companies worried.
"This is worse than Covid or the 2008 crash. There isn't a day that goes by when you aren't hit with another rising cost."
He says the £6bn rise in employers' National Insurance that comes in on Wednesday will add £90,000 to his own 250-person payroll - equivalent to the wages of three graduate chemists - and it couldn't come at a worse time. "Support from the government such as furlough payments, tax reliefs and a moratorium on landlords being able to evict businesses due to rent arrears are due to expire. It's a perfect storm and there are signs the dam is beginning to break."So far the government has focused its efforts to cushion the energy blow on consumers. The eyes of company owners now turn hopefully to the government's long awaited energy strategy due to be published on Thursday.
For them and thousands of other manufacturers, chip shops, restaurants, care homes, and pubs who won't qualify for that help - this is a "cost of doing business" crisis to rival anything in living memory.
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