The boss of Pets at Home has said the changes to national insurance in the Budget are damaging opportunities for “young, flexible workers”, part-time workers and women.
Speaking to the Mail on Sunday, Lyssa McGowan said the retailer faces an £18m hit from the Budget measures set to be introduced in April – which she blamed for the 33% fall in the brand’s share price since they were announced.
“This came as a big surprise to business,” she said. “If [the government] had consulted more widely, it might have realised the impact on young, flexible workers, as well as part-time workers and women”.
With the national insurance contribution threshold set to be lowered to £5,000 a year per employee from April, McGowan said employers now face the prospect of paying much more for staff working just a few hours a week.
“It’s more expensive now to have two part-time employees than to have one full-time employee doing the same job,” she said. “But it’s done. It is what it is”.
Pets at Home brand is currently facing a competition investigation along with the wider veterinary sector.
The Competition and Markets Authority is investigating allegations that veterinary charges are too expensive, driven by the decrease in independent vets. More than half of all UK vets are now owned by six corporations, of which Pets at Home is one.
McGowan defended the private sector: “In the UK, people don’t understand how much health care costs because of the NHS. If you go to the US, people are much more au fait with how much an MRI, for example, costs, or an operation. Here, it can quite often come as a shock.”
She added: “Our vets will make sure that they’re delivering the best care for your pet that you can afford. They’re not pushing any particular treatment. They’re trying to find the right one.”
No comments yet