Four out of five employers stated that they were immediately impacted by the increase in national insurance contributions (NICs), according to research by the British Chambers of Commerce (BCC).
The BCC surveyed more than 1,100 UK employers and found that the NIC increase has caused negative impacts on 81% of businesses.
Firms said the rise in employer NICs from 13.8% to 15.05% has increased staffing costs, forced some to put up their prices and meant they would be limiting their investment.
As part of its call for an Emergency Budget, the BCC said the rise should be immediately reversed for at least a year, as firms battle surging costs on multiple fronts.
The BCC is calling for action to give businesses a chance to keep a lid on rising prices, boost productivity and ease cost pressures.
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