Would you take a 50% pay cut?

[Sysman]

I suppose if you trust that your employer won't renege on his side of the agreement it's do-able. Quite possible if it's a family business or privately owned with strong local ties, but I wouldn't trust a PLC with an agreement like that.

Yep, BTDT with a PLC.

With a family business I would once upon a time have done what you suggest, but not if the banks have too much a say in the way their business is run. BTDT too.

[Mich the Tester]

National Insurance.

Yes, I know what NI is, but why would 'no NI for manufacturing jobs' make a difference?

[AtW]

Yes, I know what NI is, but why would 'no NI for manufacturing jobs' make a difference?

It will reduce the labour cost differential considerably and keep some jobs and companies locally.

[Mich the Tester]

It will reduce the labour cost differential considerably and keep some jobs and companies locally.

Nonsense. Most manufacturing jobs these days are highly skilled and labour makes up about 15% of the total costs of manufacturing in a modern business. Getting rid of NI contributions would just screw up the social security system. Fuel taxes are probably a bigger problem because manufacturing involves moving lots of stuff around in just-in-time processes.

[DimPrawn]

Nonsense. Most manufacturing jobs these days are highly skilled and labour makes up about 15% of the total costs of manufacturing in a modern business. Getting rid of NI contributions would just screw up the social security system. Fuel taxes are probably a bigger problem because manufacturing involves moving lots of stuff around in just-in-time processes.

What's NI got to do with social security? Do you actually think NI is used to pay for your pension?

[Mich the Tester]

What's NI got to do with social security? Do you actually think NI is used to pay for your pension?

No of course it isn't, but it should be.

[DimPrawn]

No of course it isn't, but it should be.

And Santa Claus should exist, but he doesn't. Nice logic.

Scrapping NI would hurt Social Security, if it were use to pay for it, which it isn't.

[SimonMac]

I would be very suspicious if a Client asked me to take a 50% pay cut to keep the business viable for the short term compared to an across the board 10% cut to save costs

[SueEllen]

Most contractors:
1. Have skills that can be used in more than one industry, and
2. Are mobile.

Hence there is no need to take a 50% cut.

However if you had a skill in a dying industry and lived in the a**end of no where then taking a 50% cut with a hope that the business can turn round is preferable to claiming the dole.

[d000hg]

A lot of us take 100% cuts when we're benched

Your Ltd stops paying you when it hasn't got any clients? That sounds like a tulip company to work for, your boss is a tyrant.