Commenting on today’s Spending Review (25 November), Nigel Morris, employment tax director at MHA MacIntyre Hudson, says Sunak failed to deliver for businesses:
“More help for businesses is essential to protect our economy, yet we saw no major support made available for them, for example a cut in employers’ national insurance payments, or restoration of the £1,000 Job Retention Bonus for keeping on furloughed staff.
“The increase in the National Living Wage is great news for employees, as is its extended age range, which means employees now qualify from age 23, but this puts more pressure on stretched employers to fund wages and associated national insurance costs.
“If the £3bn investment in the Restart Scheme delivers on its aim to help one million people, it will really help soften the blow of job losses resulting from the pandemic. Rishi Sunak’s focus on protecting lives and livelihoods is much welcome, but we need the right balance between support for individuals and the companies that employ them.”