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Hays Welcomes NICs U Turn

Hays Welcomes NICs U Turn

Paul Venables, Group Finance Director at Hays, comments on the National Insurance Contributions following yesterdays Queens speech:

We were relieved to see that yesterday's Queen's speech included a reversal in part of the planned increase in National Insurance Contributions (NICs). As we said in our Manifesto for Employment, an increase in NICs on employers is in effect a tax on jobs and with the economic recovery as fragile as it is, the last thing we need for business is any further financial burden related to the costs of employment which might deter employers from taking on new staff.

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