Top pub and restaurant bosses are warning that tax rises in last month’s Budget will lead to closures and job losses in the hospitality industry due to an increase in National Insurance Contributions for employers. The changes, designed to generate £25bn for public services, will raise the rate from 13.8% to 15% and reduce the threshold from £9,100 to £5,000 per year, potentially resulting in job cuts, reduced hours, and impacts on lower earners. Industry leaders are calling for government measures to protect businesses employing low earners, as the changes are predicted to have a significant financial impact on businesses across the UK.
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