Labour has proved yet again that it hates employers/business.

[Batmanisaplaceinturkey]

Don't be surprised when your local pubs, restaurants, hairdressers etc close up shop.
Don't be surprised if your employer can't fund your next payrise, because their NI bill has increased. Workers will indirectly pay for these increases; employers don't have magic money trees.
I work for an employer that has charitable status. We work to improve the lives of others but now have to look at reducing headcount. Employers are not all fat cats driving Mercs.
BTW, I hate the Tories. This post does not make me a Tory before anyone starts that one.

Isn’t that the equivalent of about 4 employees on minimum wage?

@MonkeyToHeaven , governments across the world have had to contend with the war in Ukraine and COVID both of which have been inflationary. Hammering businesses and borrowing heavily is not the answer.

So what would your solution have been, OP, given that they have a very big black hole to fill and a load of crumbling schools and hospitals to deal with?

The partners in the firm employing me may have to take home slightly less than their usual several hundred thousand each this year. I can't say my heart bleeds for them.

This!!!

The Tories targeted the poor, vulnerable and ill alongside public services which they ran into the ground in order to favour the rich, their mates and their party.

This budget doesn’t suit them. Countless Tory budgets didn’t suit the vast majority of people living in the UK. 🤷‍♀️

Hear hear! Shame people don't understand this. You've explained it well.

I agree with this - all the multinationals does transfer pricing so profits are not taxed in this country - it’s these companies they should go after , not continue to give subsidies to them using our tax payers money!!! Also these are the companies that are using cheap offshore labour rather than employ British people which allows them to cut their prices and be ultra competitive against uk based businesses.

One other area they should tax are companies like shein who are taking it in but not being even charged vat due to the low value of goods. They are killing small businesses also

they need to create an additional tax bracket for those earning over 1m to tax them - even if it’s only 1% more - that’s £10k per person extra

to be robbing ordinary people and small businesses and robbing people with inspiration to work hard, save and help the next generation through either providing better access to education or leaving savings to them to get a better start in life is wrong! People will just spend more OVERSEAS instead - have friends who switched to state school and suddenly they are booking holidays to Maldives and Japan with the money they no longer have to spend / this is money leaving our shores that us not reused in our economy.

Maybe people will just think this. Unless they decide to lower costs

Do you know this is actually the case though - are they wealthy though your specific business? Unless you work for a multi national, few owners of multi nationals are "rolling in it"

You will when you suddenly get made redundant to cut costs or your bonus is cut by half or your salary is only going up by 0.5% and cannot match inflation! The money to pay for all this has to come from somewhere to maintain these partner’s compensation levels - why would they need to take a pay cut when they essentially own the company so cane make decisions of getting rid of people and making existing people work even harder?

Stop wasting so much money.

NHS has so many inefficiencies that it will eat up all the billions it is given without any significant improvement, without reform

It’s not just the NHS, I have done some work with the government before and just the level of waste and useless roles floating around is astonishing. Roles that clearly aren’t needed but are filled by consultants from capgemini, Deloitte and all this flexi time. Such wastage and productivity is super low and poor quality (which is a reason they bring in consultants to do BAU roles) - cut half the staff and the place will run the same. Why are they paying for consultants at £1000 a day to do these roles and then complaining all the money is gone? These are office based roles I am talking about for services that are not essential

Therefore, they should go. All equally poor and miserable. Way to go!

Unfortunately this means that some small businesses will have to implement pay freezes, recruitment freezes, let staff go. Some will go under. It's tough running a small business and plenty will not be able to absorb this.

Perhaps cut spending. There's so much waste and inefficiency in the public sector and the welfare state is a bloated, unsustainable monster.

Make even more cuts!🤣Have you tried using the NHS recently?

Feels like this can't be overstated!

Meanwhile, taxpayers have spent decades subsidising large corporations with benefit top-ups. Enough.

I think it's a decent budget; there are always going to be winners and losers but the lens has shifted towards business rather than individuals.

these “business owners” are our GPs, nail salons, corner shops, vets, dry cleaners, nurseries, laundrettes, hair dressers, coffee shops, bistros. They’re our independent shoe/toy/book stores.

Society as a whole becomes poorer (economically, socially, creatively) if we stifle small businesses. Our high streets become charmless facsimiles, our employment opportunities become limited to MNCs, our coffee is from Starbucks, our reading material from Tesco, our dinner from Pizza Hut.

celebrating their demise because “a business who can’t absorb the costs, isn’t well run” is misguided. The rich will get (much) richer because they’re the only ones able to take your money. Meanwhile our user experience will be worse, we will matter less as individuals, our choice will be limited.

Yep, the radio analysis I heard yesterday said exactly this.

I'm sad and worried for British farmers after the news that £1m+ farms will be charged inheritance tax.

£1m for a property seems wild to me but for farmland and buildings it is soon reached. Despite sometimes popular opinion most British farm businesses are asset rich but cash poor and not making amazing profits. Savings in the bank are soon wiped out for one failed crop or for and mouth outbreak.

Farming is intergenerational, unless we are happy to move fully to the super farms model of huge industrial firms stripping the land of nutrients for future generations (tldr: you cannot sustainably use only cheap chemical fertilizers), removing habitat for wildlife etc. An awful lot of your average UK farmers will have to sell off land or sell up entirely when their parents die, under this inheritance tax change.

We as the UK seem to want British produced food but not too support the production of it.

Yep, very well explained.

So much lip service paid to the importance of small business to our economy by Kier. It's a shame that what this budget says is "small business of 4 employees on NMW. Don't pay your staff above NMW and don't grow!"

Employees will take the majority of cost as OBR stated

They are individuals aren’t they?

Doesn’t sound a lot when you term it as a percentage but that .6m of business that it does apply to and are at risk (notwithstanding the other 92% may still be impacted by minimum wage) equates to 500 business per town.

Imagine the impact that could have on your local area.

@ThatAgileGoldMoose I can’t even imagine how farmers are feeling today. Plus the double whammy with inheritance tax.

Devastating for them

I get it, you're panicking and now have realised what you've done to yourself by electing a man who obvious, clear and lifelong communist sympathies.

We won't be debating this, since I have the facts on my side.

How many husbands do you have? Are they all moving back with you?

Maybe that’s why you can’t afford to go to the pub.