The Chamber has contacted MP’s across the region, urging them to immediately act on concerns the Employment Rights Bill will harm investment and recruitment intentions, especially SMEs, in the East Midlands.
Currently passing through Parliament, the Bill needs to be changed, as in its current form the Bill could add more cost burden to businesses, many of whom are still struggling with the effects of the 2024 Chancellor’s Budget and the next tax regime which commenced in April.
With East Midlands businesses having reported a 7% drop in attempts to recruit staff over the last three quarters of the Chamber’s Quarterly Economic Survey, a 15% drop in expectation of a rise in profitability over the next year and corporate taxation almost top of business concerns, the overall picture is of fragile confidence among businesses in the region.
