Businesses in Yorkshire and the Humber will be hit by staggering costs as a raft of new employment laws come into force over the next four years.
The British Chambers of Commerce estimates that businesses in the region will have to pay out as much as £1.67 billion between 2011 and 2015.
The BCC has put together a timeline that shows when the new legislation will come into force and how much it will cost the average business.
Some of the most costly regulations due to come into effect include:
|Year||Regulation||Annual recurring cost|
|2011||Right to Request Time off to Train||
£174.96m (national figs)
|2011||Agency Workers Directive||£1,548m (national figs)|
|2012||Pensions Reform||£4,526m (national figs)|
The BCC is warning that it will be hard for private sector businesses to create the jobs necessary to mitigate the effects of public sector cutbacks if the Government continues to make it expensive to employ people.
Head of Policy and Representation at Mid Yorkshire Chamber of Commerce, Steven Leigh, said:
“It is unfortunate that despite previous assurances from the Government that they would stem the flow of new employment legislation, they have in fact continued to add to it.
“We are disappointed that the Coalition has so far been unable to match their rhetoric with some positive business-friendly measures which will create a business environment to help encourage investment and create new employment opportunities.
“Whilst the proposed reform of the Employment Tribunal System is welcome news, the savings will be small compared to the potential costs of this continual raft of additional burdens on British businesses”.