Blow for Reeves as company hiring plans ‘at record low’ in wake of national insurance hike
Rachel Reeves has been dealt a fresh blow on the economy as company hiring plans fall to a “record low” following her national insurance contributions (NIC) hike. The Chartered Institute of Personnel and Development (CIPD) said just 57 per cent of private sector employers plan to recruit staff in the next three months, down from 65 per cent last autumn, as they battle rising costs.The influential monthly report by accountants KPMG and the Recruitment and Employment Federation (REC) also showed a “further steep decline” in permanent worker appointments last month, with recruiters blaming weak confidence in the economy and higher payroll costs. Anna Leach, the chief economist at the Institute of Directors, warned the trend “could undermine the UK’s weak growth outlook further, hitting both living standards and tax revenues”.Rachel Reeves has suffered another economic blow More