NIC, Who Do You Think Will Pay?.
The uproar over the budget changes to NIC and recent reports have generated some more arithmetic.
We have a rate rise from 13.8% to 15% and a threshold fall of £9,100 to£5,000, so if you Take an employee on the UK average wage of £39,452 the employers NIC is increased by £966 pa, and per head.
In the case of our premier retailers this cost amounts, Asda £100 million, Sainsbury £140 million, M&S £120 million and Morrisons £70 million, and only the Lord knows what Tesco will be.
Now it must be obvious ,to even the least commercially informed among us, that no business can absorb these sums out of profits, alone therefore it means either price increases or cuts in costs. Now in retailing one of the biggest cost is staff wages and that is also the easiest to reduce by redundancy or lower salaries. The other easy option is higher prices.
Whichever option that you choose, who ends up paying the bill?, so much for governing for "working people".
This is lying hypocrisy of the highest order.
We have a rate rise from 13.8% to 15% and a threshold fall of £9,100 to£5,000, so if you Take an employee on the UK average wage of £39,452 the employers NIC is increased by £966 pa, and per head.
In the case of our premier retailers this cost amounts, Asda £100 million, Sainsbury £140 million, M&S £120 million and Morrisons £70 million, and only the Lord knows what Tesco will be.
Now it must be obvious ,to even the least commercially informed among us, that no business can absorb these sums out of profits, alone therefore it means either price increases or cuts in costs. Now in retailing one of the biggest cost is staff wages and that is also the easiest to reduce by redundancy or lower salaries. The other easy option is higher prices.
Whichever option that you choose, who ends up paying the bill?, so much for governing for "working people".
This is lying hypocrisy of the highest order.
