Shadow Paymaster General Richard Holden has expressed serious concerns about recent stock market declines following the imposition of US tariffs, which he says are compounding the impact of Labour's National Insurance increases on UK businesses.Speaking to GB News, Holden described the situation as "very concerning" for British companies.FULL STORY HERE.
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00:00Well let's cross over straight away shall we to Shadow Paymaster General
00:04Richard Holden who joins us now. Good to see you this morning Mr. Holden. I'm just
00:08taking a look at the FTSE 100 just opened down 2.3% today and that follows
00:13Asian stock markets which have been plummeting. Shockwaves from US President
00:17Donald Trump's tariffs obviously continuing to have an effect. What do you
00:22make of all of this? You must be concerned. I am very concerned. I think
00:29this is particularly for UK business on top of Labour's massive jobs tax
00:33increases which are costing even our automotive sector alone 200
00:38million pounds a year. Kicking in yesterday costing businesses in my
00:42constituency and right across the country. You know on top of that these
00:46tariffs are really very unwelcome. But you know we have to do what we can as a
00:52country to make the situation better at home and all we've seen from Labour so
00:58far is more hammering of business with both tax on one side and red tape on the
01:03other.