There were very few shocks; the increase in employers’ National Insurance contributions had been forecast, it was just the size of it that was unknown. An increase of 1.2% will mean a substantial increase in costs for the largest employers, and the effect on smaller travel businesses should not be under estimated either.
With the rate of National Minimum Wage for those aged 21 and over increasing from £11.44 an hour to £12.21, the additional cost of employing 10 full-time workers on NMW will be around £19,000 compared with the current rate.
