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Savings and Investments thread
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Instead of raising the minimum wage which hurts employer's, raise the tax allowance Instead.shine166 said:
Sure, what's the solution then though ?Rob7Lee said:
I think as you can see posted, whilst I’m sure everyone wants wages to increase, if you are small business and unable to increase your prices, every Minimum wage increase and NI increase is really hurting small businesses.shine166 said:It's a tricky one, as minimum wage life is a massive struggle. Luckily I have a 18% top up for shift allowance or things would be pretty tough. We were 'due' a 1-3% rise in January anyway but that just gets lost in the April boost now really. It's probably only £60 pm extra after tax etc.
Pay for this by freezing benefits which does nothing to encourage people back into work0 -
Wow, that is a very powerful post and pretty heartbreaking. It should be read by more influential people than us. I hope you will send it to your MP and try and get the media to pick it up.northstandsteve said:Lot's of opinions on here, from people in paid employment, well as a small business owner let me tell you, it is not sustainable. On the 16th of December we will lock the doors for the final time, my Dad started this business in 1978 and it truly guts me to have to do it, he passed away 2 years ago and we wanted to keep this business going in his memory, but constant increases in NI to employers coupled with the minimum wage increases means we can no longer compete with imports or online companies without the overheads we have. All our costs constantly go up, yet we cannot increase our prices because if we do we lose more customers. What the future holds for a 55 year old man who knows nothing else and still has a hefty mortgage to pay due to a messy divorce fuck knows,but labour haven't got a clue what they are doing apart from killing businesses like mine.
This won't help you but I wish you all the best .
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Lots of different things, as an example:shine166 said:
Sure, what's the solution then though ?Rob7Lee said:
I think as you can see posted, whilst I’m sure everyone wants wages to increase, if you are small business and unable to increase your prices, every Minimum wage increase and NI increase is really hurting small businesses.shine166 said:It's a tricky one, as minimum wage life is a massive struggle. Luckily I have a 18% top up for shift allowance or things would be pretty tough. We were 'due' a 1-3% rise in January anyway but that just gets lost in the April boost now really. It's probably only £60 pm extra after tax etc.
Government could have NOT brought in the additional NI for small/medium businesses.
Increase the tax free allowance rather than increase minimum wage. Also increase bandings of taxation.
increase where NI kicks in for employee and employer.
101 different options so that these increases didn’t negatively effect small businesses. You would then have to balance that elsewhere, again many options for that.
as you can see from Steve’s post, whilst minimum wage may have increased, some are now going to be out of work, surely that’s not the plan, we need far more people in work!0
