FMB chief rebukes Autumn Budget for extorting tradespeople
Posted: Friday, November 15th, 2024
Brian Berry, CEO of the Federation of Master Builders, argues that small business owners in the construction sector face a "double whammy" as employers' national insurance contribution goes up by 1.2% to 15% and national minimum wages are hiked by 6%. Speaking to Paul Meenan on the Electrical Show, he termed the Autumn Budget a 'mixed bag' leaning more towards the 'bad'. "For the trades, it's not good news. Increasing employers' national insurance contribution and lowering the threshold from £9,100 to 5,000 is really bad. This is a tax on jobs despite what is being said." Small business owners in construction are revolting, as it will affect their work and hiring employees in a sector already plagued by a skills shortage. "This is going to hurt trades. It's an additional cost on building work. Putting on tax when you've got a declining market isn't good. "Every small company will feel the pinch, leading to unemployment and tightening of the economy. People will have less money to spend. The people who create the wealth in this country seem to be paying the highest price in this budget," Brian reiterates. He adds that the smaller contractors are paying a more significant price than their larger counterparts. Many tradespeople are considering leaving the country. Electrician Dan Bryne, for example, tells Paul he is 'forced' to leave the UK for Spain because the cost increase makes it impossible to run his business.
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