The Chief Secretary to the Treasury has suggested big businesses hit by the National Insurance (NI) raid should “suck it up”.
Darren Jones, Rachel Reeves’s deputy, said “bigger businesses are more able to burden some of the contributions we need to make to the state”.
Big business employs more people to a tax on employment affects them…..ah, no, that doesn’t work.
Simon Roberts, the boss of Sainsbury’s, revealed last week that the NI raid would cost the retailer £140 million.
Well, they make lots of profit, right …..umm, yeah about 2% of sales. So that’s not right…..
Possibly just Darren is a dick?
Ah no Tim
Big companies have more scope to put up their prices.
Stagflation !
Forward to the Seventies !
At least in the 70s the government was trying to keep the lights on.
“bigger businesses are more able to burden some of the contributions we need to make to the state”.
Compared to what?
Compared to government, big businesses in toto are small, and government isn’t being asked to bear some of the burden.
So there will be more automation in supermarkets. Shelf stacking robots and the like. I wonder how much an advantage Ocado has now?
I know for a fact all Labour Ministers are as thick as pig shit, so I suppose he’s just trying to ingratiate himself?
Forgive me for repeating myself, but is it deliberate and they think they’ll escape unscathed from the wreckage? Or are they really unbelievably stupid?
In response to Labour’s budget, British firms are doubling down on firing UK staff and replacing them with Indians, which is killing the value of UK businesses because Indian employees are a nightmare.
See also:
Infosys, one of India’s largest software companies, has reported an increase in its dividend, with a significant payout for the leader of the opposition, Rishi Sunak, and his wife, Akshata Murty.
The IT outsourcing company has increased its interim dividend by 16.7% this year, according to its latest results, meaning Murty could receive a payout of up to £7.5m on her holding, which is now worth around £703m.
Steve:’…with a significant payout for the leader of the opposition…’
Interesting. Can it still be termed ‘the opposition’ when it’s not doing any opposing?
The first worrying thing is the attitude, “contributions we need to make to the state.” As a certain Italian gentleman said, “Everything within the state, nothing outside the state, nothing against the state.”
A 2% margin is as low as you can reasonably go: that means £140 million will be added to grocery bills.
Not my original comment but it is worth repeating – a Dunning–Kruger Cabinet.
@Steve..
meaning Murty could receive a payout of up to £7.5m on her holding, which is now worth around £703m.
I make that a return of approx 1.07%… She’d do better at the Post Office – or for that matter BATS returns near 10%..
“are more able to burden some” Fucker no speaka da English no good.
Bloody hell, the Chief Sec. Does he have an unburdened Kamala living in his head space? (I hesitate to say “brain”.)
Spud told Labour that rich people just sit on large piles of cash going begging. Therefore Sainsburys (shareholders) can use that to prop up government largesse.
Makes perfect sense if you are a perfect moron.
Julia – His Majesty’s Opposition opposes the British people. But so does His Majesty.
BJ – if you’ve ever had to deal with offshore Indian employees, the miracle is that Infosys turns a profit at all.
The purpose of the business is to create customers. You do that by delivering great products and services. Great products and services don’t come from lazy people who can barely speak English. Offshoring is turning UK plc into a hollow shell.