Make UK comment on NIC reversal

Commenting on the reversal of the increase in NIC announced by the Chancellor today, Verity Davidge, Director of Policy at Make UK, said:

“The Chancellor has clearly recognised the difficult situation companies are facing in response to eye watering increases in costs across the board. This is a welcome common sense reversal of a proposal which was both illogical and ill-timed when it was announced and, is even more so now given it is a tax on jobs. With the cost of employment in particular skyrocketing  this will put cash back in the pockets of businesses and consumers at a time when they are burning through their cashflow at a rate of knots.”