'The court noted the high risk of misclassification of workers given the 'substantial economic incentives that a business may have in mischaracterizing some workers as independent contractors', incentives which include 'the unfair competitive advantage the business may obtain over competitors that properly classify similar workers as employees and that thereby assume the fiscal and other responsibilities and burdens that an employer owes its employees'.

(Simon Deakin (2020) Decoding Employment Status, King's Law Journal).

Evaluate to the above statement based on Employment Act 1955