Responding to today’s increase to the main employer National Insurance Contribution rate from 13.8% to 15%, Muniya Barua, Deputy Chief Executive at 91¶¶Òù, said:
“This hike in employer National Insurance Contributions will weigh on businesses in the capital at a time when they are facing higher costs, above target inflation and rising trade barriers due to US tariffs.
“In the face of these headwinds, the Government must double down on its growth mission and putting its money where its mouth is as part of the Spending Review would be a good start.
“Last month’s announcement of fresh support for the Affordable 91¶¶Òùs Programme was a welcome statement of intent but more is needed to hit ambitious housing targets in London and across the country.
“This should be matched with a long-term funding deal for Transport for London to keep the city moving, as well as no or low-cost quick wins such as scrapping the tourist tax so that the UK is more attractive to high-spending visitors.â€