UK firms plan secret job moves to India as new budget hits businesses
British companies are quietly planning to move thousands of office jobs abroad after recent budget changes. New tax rates and wage rules starting next spring make UK-based positions too costly
UK business leaders warn about mass job shifts overseas due to recent budget changes‚ A report from James Reed (Reed CEO) points to wide-spread re-thinking of UK-based positions
The budget creates a three-way problem for companies: higher National Insurance costs new minimum-wage rules and worker-rights changes (which might cost firms nearly £5bn yearly). Deutsche Bank research suggests these changes could affect up to 100‚000 job opportunities
Neil Carberry from the Recruitment and Employment Confederation notes that many big companies are already planning job moves: “Ive talked to lots of firms where off-shoring is the main topic“
White-collar work is most at-risk – accounting finance and HR roles could move to places like India where skilled workers are easy to find. One recruiter already plans to move 27 positions abroad; experts think thousands more will follow. Youth jobless rates jumped from 12.1% to 14.8% since last fall which makes the situation extra-worrying
The governments reply explains their choices: “With our public services falling apart and a £22bn money gap from previous leadership we had to make hard decisions. More than 50% of employers will see lower or same National Insurance costs; the NHS gets £22.6bn more“
