rise

Quarter of UK Businesses Not Prepared for Rise in Bank Interest Rates

Majority of companies preparing for a rise in interest have factored a rise of only .25% Research shows that 26.5% of UK businesses have not factored the rise of bank interest rates into their financial planning. The report, which was commissioned by Company Watch and consisted of 500 UK businesses, revealed that of those businesses that have factored interest rate rises; the biggest group at 40% are prepared for an increase of just .25%, followed by 30% who are predicting a .75% rise and finally 25% are factoring a .5% rise in their business’ financial plan. The survey, which was conducted by market research group OnePoll, also asked correspondents how they planned to cover increased charges. While 70% are currently in discussion with banks to lock-in current debt terms, 30% stated that t... »

Coalition Must Scrap National Insurance Rise

Coalition Must Scrap National Insurance Rise

Business groups have called on the new coalition government to scrap the planned National Insurance Contributions (NICs) rise entirely or risk deterring firms from recruiting. The Liberal Democrats and Conservatives have agreed to partly ditch next year’s planned one per cent NIC rise, by raising the threshold at which employers start paying NICs by £21 per week ― saving them up to £150 per employee. However, plans to raise employees’ NICs for those earning more than £20,000 will still go ahead. British Chambers of Commerce spokesman, Sam Turvey, said the whole of the employers’ NIC rise should be scrapped. “Under the Labour Government, employers’ class one NICs rate was due to rise from 12.8 per cent as it is currently to 13.8 per cent... »

Excessive Minimum Wage Rise Stops Firms Recruiting, warns BCC

Excessive Minimum Wage Rise Stops Firms Recruiting, warns BCC

Raising the national minimum wage by almost double last year’s increase will deter small firms from taking on new recruits, the British Chambers of Commerce (BCC) has warned. A minimum wage increase of 2.2% from 1 October 2010 for low paid workers aged over 21 was announced in this year’s Budget. This will bring their hourly pay up from £5.80 to £5.93. Last year the national minimum wage increased by just seven pence from £5.73 to £5.80. Low paid workers aged between 18 and 20 will also see a rise, to £4.92 per hour, while 16 to 17 year-olds will be paid £3.64 per hour. The BCC’s director of policy and external affairs, Dr Adam Marshall, said the wage increase took some of the shine off a Budget that had small firms at its heart. &ldquo... »

Don't Drop Your Guard on Swine Flu

Don’t Drop Your Guard on Swine Flu

Employers have dropped their guard over swine flu when they should be preparing for staff absence rates of up to 50 per cent this autumn, the Chartered Institute of Personnel and Development (CIPD) has warned. Research from the Business Continuity Institute (BCI) also found that 57 per cent of employers have either ‘weak’ plans in place or no plans at all to deal with the swine flu pandemic. Cases of swine flu are expected to increase as children return to school over the next few weeks. CIPD senior policy adviser, Ben Wilmott, said that the high absence figure was a “worst-case scenario”, based on combining Government swine flu statistics with other types of absence, such as seasonal colds, and parents being forced to take time off to care for sick dependants. But ... »