Manufacturing jobs to go if taxes rise

Link: Budget 2002: Widow of opportunity

Of the 1,000 companies surveyed by the EEF, 53% stated they would reduce staff levels in response to the one per cent rise in national insurance contributions announced by the chancellor in the last Budget.

Director general of the EEF, Martin Temple said his worst fears had been confirmed by the survey, saying the NIC increases was ‘yet another cost’ on top of rising insurance premiums, increased pensions and the climate change levy.

‘The government is playing a very dangerous game with manufacturing jobs and its future competitiveness,’ he said.

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