Director-General of the British Chambers of Commerce (BCC), David Frost, has today written to the Chancellor regarding the announcement to increase National Insurance Contributions (NICs) in his Pre-Budget Report.
On the Treasury's own figures, the increase in NICs will cost employers £2.7 billion when the adjustment is made in 2011.
In the letter, David Frost points out that "Raising NIC rates, following the undoubted pain that the business community will feel over the coming year, will act as a barrier to employers wanting to grow their workforce."