Connect with us
More Posts
News9 hours ago

UK Economy Grows Modestly by 0.1% in November, Falling Short of Expectations
Business9 hours ago

North-South Pay Divide Grows as Workers in the North See More Salary Increases, New Report Shows
News1 day ago

Asos to Close Major US Warehouse, Announces £200 Million Impairment Charge
News1 day ago

Dyson Cancels £100 Million Bristol Research Hub, Consolidates Operations at Malmesbury Campus
Business2 days ago

Marks & Spencer Rolls Out Biomethane-Fuelled Lorries in Push Towards Net Zero
News2 days ago

Businesses Urged to Prepare for Wage and Statutory Payment Increases in 2025
Business3 days ago

Amazon Orders 150 Electric HGVs as Part of Plan to Create UK’s Largest Zero-Emission Fleet
News3 days ago

Hiring outside London has dropped significantly after Chancellor Rachel Reeves unveiled her first Budget, leaving regional businesses scrambling to contain costs. The recruitment firm Robert Walters reported a 45pc fall in fee income from operations outside the capital during the final quarter of 2024, while London-based income rose by 3pc. The company attributed the decline to a hiring slowdown triggered by Ms Reeves’s tax measures, including a £25bn increase in employers’ National Insurance contributions. Toby Fowlston, chief executive of Robert Walters, said the surcharge “has been a dent to employers, and obviously that cost is needing to be absorbed.” A trading update revealed that the 30 October Budget rattled business confidence and dampened employers’ hiring plans in the closing months of 2024. The Institute of Directors reported that business confidence fell to its lowest level since the first Covid lockdown in December 2024. Mr Fowlston noted that worker confidence has also taken a hit, as many employees who secured “premium salaries” in the post-pandemic hiring boom are hesitant to switch roles in an uncertain market. “If you put yourselves in the shoes of an employee, they’re thinking: I’m on a good salary, the market is volatile, why would I move?” he explained. He added that Labour’s plans to overhaul UK employment law could amplify the pressure on Britain’s jobs market. “Further increases in costs” for employers would be “critical” for Labour to address in collaboration with businesses, he warned, cautioning that reforms—especially around zero-hours contracts—could have unintended negative consequences.