UK firms flag over $1 billion in costs from increase in national insurance, wages
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 21 2024
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Should l Buy ?
Source: Reuters
Impact of National Insurance Contribution Increase: British companies are anticipating an increase in costs totaling approximately £820 million ($1.04 billion) due to rising employers' National Insurance Contributions and minimum wage hikes, which they expect will contribute to inflation.
Sector-Specific Cost Estimates: Various companies, including major retailers like Sainsbury's and Marks & Spencer, have reported specific cost impacts from these changes, with estimates ranging from millions to hundreds of millions of pounds across different sectors.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
