The East Midlands Chamber has written to MPs, urging immediate amendments to the Employment Rights Bill currently progressing through Parliament. The Chamber argues that, in its present form, the Bill could impose additional financial strain on businesses, particularly small and medium-sized enterprises (SMEs) still recovering from the impact of the 2024 Chancellor’s Budget and the new tax regime introduced in April.
The Chamber’s call comes as local businesses continue to report declining confidence, with recruitment attempts dropping by 7% over the past three quarters, as per the Chamber’s Quarterly Economic Survey. There is also a notable 15% reduction in the expectation of profitability growth for the year ahead. Amid rising concerns over corporate tax, these developments indicate a fragile economic outlook for the region’s businesses.
