Workforce Survey 2017: Impact of Employment Costs
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The survey, held in partnership with Middlesex University London, reveals that pensions auto-enrolment, National Living Wage and the Apprenticeship Levy have increased the cost base of businesses, and could lead to reduced opportunities for investment and wage growth.
The rise in the National Living Wage (NLW) in April of 2017 has increased employment costs for one-in-two companies (50%) in the UK. There appears to be a North/South divide, with firms in the North of England (55%) and the Midlands (51%) more likely to be impacted by the National Living Wage than firms in the South (43%).
The BCC is calling on the government to ensure no new upfront costs or taxes – which sap investment, growth and recruitment potential – are imposed on business for the remainder of this parliament.