Rachel Maskell's comments came in response to reporters seeking reaction to the latest quarterly survey by Yorkshire's leading business organizations.
As reported by the Press today, business confidence in the region has been depressed since Chancellor Rachel Reeves' recent Budget, with businesses seeing a reduction in sales and investment, according to West and North Yorkshire Chamber of Commerce. reported a decrease.
Councilor Rachel Maskell said: “I have met with a number of businesses in York and I am very concerned that the combination of lower National Insurance thresholds and higher employer tax rates will put immediate cost pressures on these businesses, but at the same time I support rising national insurance rates. A national minimum wage and living wage would give low-wage workers more purchasing power in their local economy.”
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Maskell continued: “Businesses have experienced many challenges in recent years with Brexit, Covid and the cost of living and need stability to strengthen and grow.
“I know how hard business leaders work to provide good jobs and opportunities for local people. We need to develop this talent and create the right economic culture for businesses to succeed. We need to make sure we have it, but at the same time contribute fairly to the broader economy.”
He added: “I will be meeting with businesses across the city to consider how we can build on their future success and address challenges such as retail crime.”
Luke Charters, Labor MP for York Out, told reporters: “After 14 years of Tory failure, the UK is facing significant economic challenges and it is clear in the minds of business owners and managers across the region. It has become a burden to many people,” he said.
“Labour is committed to returning Britain to growth after years of stagnation. This budget was an important first step in realizing this vision.
“Investments like this require difficult choices, but I was pleased to see the Chancellor exempt thousands of small businesses from employer national insurance en masse by increasing employment benefits.
Mr Charters added: “I have also been meeting with local businesses across York Outer, including recently hosting a breakfast roundtable with the Startup Coalition and local tech companies. If you are a York Outer business, please get in touch with my team. I would love to visit and hear their stories.”
Kevin Hollinrake, Conservative MP for Thirsk and Malton and until recently shadow business secretary, said the House of Commons' findings were “not surprising” and said business confidence was driven by “domestic policy choices”. He said a “record decline” in public sentiment was being recorded across the United States.
Hollinrake continued: They only get a certain amount of profit. We cannot afford to take a hit even if it costs more than this. ”
The MP, who is currently the shadow housing and local government secretary, has previously warned of the damage an inheritance tax on family businesses and businesses would cause.
He also told reporters: “If National Insurance contributions are higher, wages will be agreed at a lower level. All these taxes will ultimately be paid to workers and consumers. .”
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