Families face £4,500 jump in costs with ‘Jobs Tax’ and rises in household bills
FAMILIES are facing a bruising £4,500 jump in bills from today as living standards are squeezed for millions.
The new “Jobs Tax” will cost working families £3,536 over the course of this Parliament as firms pass on the National Insurance rise to staff in the form of lower wages.
Energy, water, broadband, TV licence, car and council tax rises also kick in from today, costing a total of £1,191 this financial year.
It comes as figures show the worst-off ten per cent are “stretched to breaking point” and already spend 41 per cent of their earnings on bills after housing costs.
Conservative leader Kemi Badenoch accused Chancellor Rachel Reeves — spotted out running yesterday — of “gambling” with the economy with its National Insurance rises.
Tory party research analysed Office for Budget Responsibility figures which show much of the £25billion bill will be paid for through lower wages and job cuts.
Ms Badenoch said: “Labour’s unprecedented borrowing spree and record levels of tax means she has pulled the handbrake on economic growth.
“The Prime Minister might think this is all just pocket money, but Britain’s working families will certainly notice the £3,500 Labour ministers have cost them.”
UKHospitality chief Kate Nicholls said the pub and restaurant sector’s costs are about to go up by £3.4billion a year — with seven in ten businesses reducing employment levels.
She said that an added £1.9billion in wage costs, £1billion in National Insurance and £500million in business rates would have a “chilling effect”.
Lawson Mountstevens, boss of Star Pubs & Bars, said: “The Government has to be careful of the costs being layered on to pubs. Margins are already extremely thin.
“They need to focus on reducing the burden by sticking by their commitment to reform business rates.”
A Labour spokesman accused the Tories of spending 14 years “vandalising” public services and said they plan to reverse Labour’s “record investment in our NHS”.
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