Employment at UK factories fell at its quickest pace in over four years this month as the sector grappled with higher taxes and the prospect of a downturn in overseas sales owing to President Trump’s tariffs.
The weighted balance of the Confederation of British Industry’s employment barometer for the manufacturing sector dropped to minus 16 per cent in the three months to April, down from minus 8 per cent in the quarter to January. It was the lowest reading since October 2020.
A £25 billion rise in employers’ national insurance contributions (NICs) took effect on April 6 and a 6.7 per cent jump in the minimum wage applied from the beginning of the month. In response to rising costs, manufacturers have cut back on investment
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