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

Number of UK first-time buyers in 2023 was...

January 2, 2024

Best Crypto Casinos 2024: List of Top Crypto...

August 9, 2024

Google faces antitrust trial over ad dominance as...

September 10, 2024

EU announces €4bn aid deal to back battery...

January 9, 2024

Recession avoided as UK steams ahead of Europe...

March 14, 2023

HMRC launches crypto crackdown with new data-sharing rules...

June 3, 2025

Why businesses should go for controlled growth

April 16, 2024

Raspberry Pi shares surge after strong first update...

September 25, 2024

Jonathan Reynolds appointed as new business minister amid...

July 5, 2024

Branson waves £100M he stood to receive from...

March 23, 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

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • Stocks (3,136)
    • 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