I've ran a business in the UK for 30 years, I know what I'm talking about.
What happens to company profits when costs increase?
.................................
Setting aside talking to this arrogant wee man, on the ground in the UK many people I know are closing up, selling or retiring. They've had enough. My business partner had to talk me out of retiring last night.
You see, the one thing businessmen love is having their payroll costs increased by a triple whammy and then told their pensions are now liable for 40% tax. Its truly wonderful stuff.
Then we turn to the idiot and see gibbering idiots writing off £140 million payroll cost increase as minor and irrelevant.
Just moronic talk.