A leading voice in the accountancy sector has strongly criticised the Government following today’s Spending Review, claiming Labour are “setting out their stall” for tax rises this Autumn.
Vipul Sheth, Managing Director of Advancetrack, says the Government lacks a clear economic plan – highlighting that public sector spending comes at a time of a sharp drop in employment figures, indicating mounting pressure on UK businesses.
Vipul said: “Today’s announcement on spending just confirms what I have said all along: This Government doesn’t have a plan.
“Funding for the public sector has been announced, but at a time when the number of people in employment has dropped by 109,000 in May – that’s the lowest since the pandemic and is a direct result of April’s drastic changes for businesses.
“National Insurance has gone up, the Minimum Wage has risen, and businesses clearly aren’t able to hire anymore – so no announcement on spending is going to fix that. I’ve no doubt that today’s Spending Review is Labour setting out their stall ahead of tax rises in Autumn – something that’ll be devastating for UK PLC. We need to remember that businesses create jobs and growth, not Governments.”
