Labour’s £25billion National Insurance raid could trigger UK companies moving jobs to Ireland, the country’s investment chief has said.
Firms have warned that the tax hike, which makes it more expensive to employ people, may result in jobs going offshore.
Michael Lohan, chief executive of IDA Ireland – the foreign direct investment agency – said: ‘Companies as they look to grow may decide to look at different geographies in Ireland.
‘There’s obviously a solution there. That’s naturally what happens. But sometimes policies can force companies to re-look at positions and that’s what happens on a constant basis.’
Employment costs: Firms have warned that Rachel Reeves’ October Budget may result in jobs going offshore
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