Why the UK government doesn't understand the private sector | What's the Context?

No politician could actually get away with telling businesses to “suck it up” when they warn about the impact of tax rises, though Labour’s Darren Jones came dangerously close yesterday, airily telling the BBC that bigger businesses can handle higher costs. While it’s true that they’ll find a way to pay these new taxes and wage hikes, it won’t be by dipping into their cash reserves; it will be by raising prices on consumers, passing costs on to suppliers, holding down pay for their existing staff, scaling back investment or avoiding any new hires. In the supermarket sector, margins are already punishingly tight. Finding hundreds of millions of pounds a year to meet the demands of increased labour costs and new levies will not be easy and will not be done with consequences. Continue reading 👇 https://www.cityam.com/tax-hikes-and-labour-cost-increases-will-come-at-a-price/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Christian May, Joseph Curay Teneda, Larissa Howie