Three-Quarters of Business Directors Say Rayner Employment Bill Will Cut Growth – Guido Fawkes

NEW REPORT: Three-Quarters of Business Directors Say Rayner Employment Bill Will Cut Growth

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Rayner’s Employment Rights Bill is still taking heavy flak from Britain’s business leaders – a new survey from the Institute of Directors this morning reveals 72% of nearly 500 directors believe the legislation will harm UK economic growth. Who would have thunk it from Rayner’s big, beautiful bill?

It gets worse:

• 49% say they’ll be less likely to hire new staff.
• 36% admit they’ll be more likely to outsource jobs overseas.
• 23% say redundancies are now more likely on the cards.
• 52% are planning to ramp up investment in automation.

Unions are heavily in support while businesses report the added regulation will only exacerbate the sting from Reeves’ tax rises. The IoD’s chief policy advisor Alex Hall-Chen said:

“The Employment Rights Bill, in conjunction with the recent increase in employer National Insurance Contributions and above-inflation increases to the National Living Wage, is significantly damaging business hiring intentions and confidence in the UK economy. This research clearly shows that the Bill will undermine the government’s key aims of securing the highest sustained growth in the G7 and achieving an 80% employment rate.”

Shadow business secretary Andrew Griffith added “if Labour had worked in business they would know their choices mean that British workers will lose their jobs to robots and foreign workers.” His Majesty’s Cabinet of union stewards and complaints managers…