REVEALED: FAMILIES £3,500 WORSE OFF AFTER LABOUR’S JOBS TAX BOMBSHELL
New bombshell analysis by the Conservatives has revealed working families will be £3,536 worse off over the course of this Parliament, because of Labour’s National Insurance Jobs Tax. The new analysis looks at figures from the independent Office for Budget Responsibility (OBR) which shows the majority of the employer National Insurance Tax rise will be passed on to workers in lower real wages.
The £25 billion hike will slash salaries, punish businesses for hiring part time workers, and heap costs onto already struggling businesses. It has been met with widespread consternation by business leaders, warning they will be cutting back on investment and recruitment as a direct result of this policy. Businesses are already laying off staff, and manufacturing has fallen.
It is no wonder that less than a quarter of businesses that backed Labour at the election are still backing them with one signatory saying they felt ‘stupid’ and ‘duped’. Almost two-thirds of City bosses expect lower profits, higher prices, and job cuts, with more than a third warning of wage reductions. Labour’s new employment rights bill could make matters even worse, further choking job creation and growth.
The Conservatives have previously called for exemptions for essential frontline services, like GP surgeries, children’s hospices and nurseries. But Labour repeatedly voted against these exemptions, meaning dying children, patients and vulnerable parents will see a reduced service because of Keir Starmer’s jobs tax. Other estimates show that schools could lose teachers and other public services will need to be cut as a result of the Jobs Tax.
Remember in this constituency voting Lib Dem gets you a Labour Government and this tax bombshell comes on top of household bills rising by over £1,000 a year because of Labour’s decisions. Alongside the 10 million pensioners who lost their winter fuel payment, families will now have less money in their pockets to cope with Labour’s economic incompetence.
