Chancellor Urged to Take Action
Rachel Reeves has been urged by experts to ditch the crippling workers’ rights red tape or kiss goodbye to growth by the end of the decade.
Business Criticism and Government Analysis
The Chancellor is facing calls to abandon extra bureaucracy such as greater protections on the first day of employment and easier for unions to gain workplace recognition. The reforms, led by deputy PM Angela Rayner, have been heavily criticized by business over changes including sick pay and zero-hours contracts with the government analysis saying it could cost firms £5 billion a year.
Growth Commission's Warning
The Growth Commission is calling on Ministers to rip up the workplace proposals which will cause "untold and unseen damage" by the extra burdens for business. Expert Shanker Singham highlighted the potential negative impact on small businesses and the economy.
National Living Wage Concerns
The rise in the national living wage will also cost businesses dearly with changes coming in at the start of next month. Lord Moynihan expressed concerns about the impact on young workers and hiring practices.
Call to Reduce Corporation Tax
Leading experts are demanding Ms. Reeves to reduce corporation tax to make Britain more competitive. Suggestions include lowering the current rate of 25 per cent to just 21 per cent.
Support from Sir Keir Starmer
Meanwhile, Sir Keir Starmer appeared to back his Chancellor over her decision to accept free tickets to watch Espresso hitmaker Sabrina Carpenter. Number 10 stated that the PM "supports all of his ministers making their own judgments" regarding hospitality.
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