Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Regional hiring slumps as Labour’s NI rise dents employers’ confidence

by January 14, 2025
January 14, 2025
Regional hiring slumps as Labour’s NI rise dents employers’ confidence

Hiring outside London has dropped significantly after Chancellor Rachel Reeves unveiled her first Budget, leaving regional businesses scrambling to contain costs.

The recruitment firm Robert Walters reported a 45pc fall in fee income from operations outside the capital during the final quarter of 2024, while London-based income rose by 3pc.

The company attributed the decline to a hiring slowdown triggered by Ms Reeves’s tax measures, including a £25bn increase in employers’ National Insurance contributions. Toby Fowlston, chief executive of Robert Walters, said the surcharge “has been a dent to employers, and obviously that cost is needing to be absorbed.”

A trading update revealed that the 30 October Budget rattled business confidence and dampened employers’ hiring plans in the closing months of 2024. The Institute of Directors reported that business confidence fell to its lowest level since the first Covid lockdown in December 2024.

Mr Fowlston noted that worker confidence has also taken a hit, as many employees who secured “premium salaries” in the post-pandemic hiring boom are hesitant to switch roles in an uncertain market. “If you put yourselves in the shoes of an employee, they’re thinking: I’m on a good salary, the market is volatile, why would I move?” he explained.

He added that Labour’s plans to overhaul UK employment law could amplify the pressure on Britain’s jobs market. “Further increases in costs” for employers would be “critical” for Labour to address in collaboration with businesses, he warned, cautioning that reforms—especially around zero-hours contracts—could have unintended negative consequences.

Read more:
Regional hiring slumps as Labour’s NI rise dents employers’ confidence

0
FacebookTwitterGoogle +Pinterest
previous post
Amazon invests in the UK’s largest e-HGV fleet, expands rail deliveries
next post
West End retailers warn of shop closures as business rates surge

You may also like

Fortune Favors the Prepared: Stepping Boldly into Casino...

December 9, 2024

How can expense management software streamline your business’s...

January 11, 2023

Pound hits seven-month high and gold surges past...

April 22, 2025

Formula One World Champion Max Verstappen race suit...

July 19, 2023

UK House Prices Decline for Second Consecutive Month...

May 1, 2024

Taxpayers left with £421m bill after one in...

July 29, 2022

Toys ‘R’ Us returns to high street with...

June 1, 2023

UK businesses raise prices at slowest rate in...

April 19, 2023

Questions mount as HBOS scandal victims await delayed...

September 16, 2024

UK Businesses Face Tightening Cash Flow Amid Rising...

October 15, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump, lawmakers react after ‘big, beautiful bill’ clears Senate hurdle

      June 29, 2025
    • How Staff Can Strengthen HIPAA Compliance and Security

      June 29, 2025
    • Lotus denies plans to close Hethel factory amid US expansion talks

      June 29, 2025
    • Top university degrees lose sway as tech employers prioritise job-ready skills

      June 29, 2025
    • Government urges supermarkets to make healthy food more appealing in bid to tackle obesity crisis

      June 29, 2025
    • Senate Republicans ram Trump’s ‘big, beautiful bill’ through key test vote

      June 29, 2025

    Categories

    • Business (8,334)
    • Investing (2,081)
    • Politics (15,854)
    • Stocks (3,177)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved