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Labour’s £25bn raid on National Insurance could lead to UK businesses moving jobs to Ireland, the country’s investment chief has said.
Companies have warned that rising taxes, which make it more expensive to hire people, could cause jobs to move abroad.
Michael Lohan, chief executive of IDA Ireland – the foreign direct investment agency – said: ‘Businesses looking to grow may decide to look at different geographies in Ireland.
‘Obviously there is a solution there. That’s naturally what happens. But sometimes policies can force companies to reconsider their positions and that’s what happens all the time.’
Employment costs: Businesses have warned that Rachel Reeves’ October budget may lead to jobs moving overseas
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