Firm says changes to employers’ national insurance and minimum wage rise will add to costs as it cuts forecasts

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BT has said it is facing £100m in extra costs as a result of the budget last week, as the telecoms company revealed another 2,000 jobs have gone under a long-term plan to cut costs.

BT’s chief executive, Allison Kirkby, revealed that changes to employers’ national insurance contributions and increases in the minimum wage would add to its costs next year, with the company being forced to offset this through higher pricing and the use of AI to improve productivity.