The British Beauty Council reports that increasing the minimum wage and insurance will result in an annual increase of over £400 million (US$508 million) in staff costs, equivalent to approximately 20,000 jobs. These changes in the UK budget will extend across industries, including personal care businesses. The British Beauty Council commissioned Pragmatix Advisory to assess the impact of minimum wage and employment tax-related measures announced in the Autumn 2024 Budget. Hairdressing and beauty services are indicated to experience the highest increase in staff costs at £190 million (US$241.3 million), followed by beauty retail at 160 million (US$203.2 million).
