Labour’s complacency is costing Britain its jobs and its confidence, w | Politics | News
On Tuesday, I spoke to some of the UK’s biggest retailers to hear directly from the businesses that keep Britain’s high streets alive. Their message was clear: the last Budget increased costs, stifled investment and put jobs at risk.
These warnings are now borne out by the latest labor market statistics. Unemployment rose to 5%, the highest level since the pandemic. Behind this number are families losing the security of their pay packet, young people being deprived of opportunities and employers having to make cuts.
It’s a reminder that when the government gets the basics wrong, it’s ordinary working people who pay the price.
Having been in office for almost 18 months, Labour’s complacency is costing British jobs and confidence.
The number of people on company payrolls fell by 180,000 last year.
Wage growth is slowing. Vacant quotas stopped. But the Government still has no credible plan to turn things around.
Instead of supporting business, Labor took on higher taxes and more bureaucratic work.
Before the election, Rachel Reeves said she would run the most “pro-business” Treasury Department.
He promised not to increase National Insurance. However, within months he broke his promise; has hit employers with a £25bn employment tax, new regulations and now the threat of more coming to the Budget.
There is no doubt that these unemployment figures are a direct result of Labour’s economically illiterate decision to increase employers’ National Insurance.
Rising hiring costs have two obvious consequences: inflation and higher unemployment – particularly in sectors where every pound counts, such as hospitality, leisure and retail. When you tax jobs, you destroy them.
And that’s exactly what we see today.
Whenever I meet retailers or those in the leisure and hospitality industry, they all tell me the same thing: Rising employment costs and growing uncertainty are forcing them to pause hiring and investment.
These are the businesses that keep our communities thriving and our high streets open. They don’t ask for help; They want a fair chance to grow, invest and provide opportunities to others.
Instead, Labor has chosen to tax work, pile up bureaucracy and reduce business confidence to record levels.
This approach is not pro-worker, but anti-business. When operating costs increase, it is employees who suffer from lost hours, lost opportunities and ultimately lost business.
The conservative approach is different: we support job creators and reward work.
It is not inevitable that unemployment will reach its highest level after the pandemic; This is the result of bad decisions.
The UK has enormous potential, supported by hard-working people and world-class businesses. The next Conservative government will restore confidence, get Britain working again and put opportunity back at the heart of our economy.
