Peterborough United owner warns that Budget National Insurance hike will cost club extra £250,000 a year

Peterborough United boss Darragh MacAnthony has warned that a Government hike in National Insurance will cost the promotion-chasing club an extra £250,000 a year.

And Mr MacAnthony says the impact of the rise in employers’ NI cost alongside increases in the National Living Wage will leave many football clubs opting to cut jobs and resist hiring more staff.

Speaking on his podcast, The Hard Truth, the chairman of the League One club hits out at what he describes as ‘anti-business’ Government ministers and warns the economy will be left in a poor shape should business owners ‘down tools’.

His warning comes just a fortnight after Labour’s Chancellor of the Exchequer Rachel Reeves announced in her Budget that the employers’ National Insurance contribution will rise by 1.5 per cent to 15 per cent from next April.

Mr MacAnthony said: “We are an industry that loses money.

“We lose millions,

"Most football clubs lose millions.

“And we’re an industry that got very little help from the last Government during Covid when industries like the arts, were getting help. There were no bailouts for us.

"Then this new government comes in and says let’s be the anti-business people – let’s hammer business.

"It is just what we need as we’re still paying all the debts from Covid.”

And Mr MacAnthony also warned that for most clubs finding the extra £250,000 or so a year would be a struggle and jobs were likely to go.

He said: "It will be a shame for the clubs which will have to make up the difference by cutting staff.

“The (ministers) are completely anti-business and I just don't understand it.

"Why would they want to punish small businesses and small business owners who are paying millions of pounds of taxes each year. What is the sense?

He added: “People don’t get the basic economics. If business owners down tools, if business owners close businesses, then good luck to your economy in four to six years after that.

"These people are anti-business and I’ve no time for anti-business.

“It will be interesting to see the state of the UK’s economy by the time of the next general election in 2029."

it is not encouraging me to go out and employ more people.”

“