Employers feeling the NICs strain

The research, which surveyed 500 HR decision makers from UK companies, also showed that 38% of those asked thought lack of budget was the main factor holding their business back from increasing the level of employee benefits. In the Autumn Budget, announced on 30 October 2024, Chancellor Rachel Reeves revealed plans to raise the National Insurance (NI) rate up to 15% for employers, whilst lowering the threshold at which they are required to pay. This increase in costs is a cause for concern for GRiD, which said that the increase in NI rates and other financial pressures may tempt some...