Thousands of British jobs face being shipped overseas thanks to Rachel Thieves’ budget. Major recruiter boss James Reed warns companies are planning to move “tens of thousands” of roles to cheaper countries like India, thanks to a “triple whammy” of increased National Insurance, higher minimum wage, and stricter union rights alone set to cost businesses nearly £5 billion a year. The first female Chancellor has sent businesses running for the hills…
Meanwhile, Neil Carberry from the Recruitment and Employment Confederation confirmed large firms are eyeing offshoring, warning he’d “talked to many larger firms where the question has been about offshoring.” Deutsche Bank also warned City clients that the Budget could axe 100,000 jobs, through both layoffs and lost opportunities for new roles. Turns out the biggest tax-hiking budget in history doesn’t promote ‘growth’. In fairness, Reeves wouldn’t have picked up these economic lessons in Halifax’s complaints department…
Kemi Badenoch at the 1922-ConHome bash last night:
“I did praise [Burnham] for his stamina, it was amazing. All I had to do was sit back and lie there. I didn’t have to do anything at all…”