Two thirds of companies slash hiring plans after Reeves's tax raid [Yahoo! Finance]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
Company Research
Source: Yahoo! Finance
delay pay rises, and almost half will be forced to lay off staff as a result of the Budget. (Source: CBI poll) Businesses are concerned that the tax rises, particularly the increase in employer National Insurance contributions, will hit their profits, competitiveness, investment, and growth. Rain Newton-Smith, CBI's chief executive, stated that 'when you hit profits, you hit competitiveness, you hit investment, you hit growth'. (Source: Rain Newton-Smith's speech) Businesses in retail and hospitality are particularly affected, with many going into 'crisis containment' mode. The increase in the minimum wage and National Insurance changes will increase costs for businesses by £7bn, according to the British Retail Consortium. (Source: British Retail Consortium) The Budget's inheritance tax grab on farmers has caused concern, with many fearful they may not be able to pass on their livelihoods to future generations. (Source: Rain Newton-Smith's speech) Rachel Reeves, the Chancellor
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