bbc.com

UK Business Confidence Plummets Amid Rising Tax Concerns

Confidence among UK businesses has drastically declined amid rising costs and tax fears, as indicated by a British Chambers of Commerce survey of over 4,800 firms. Nearly two-thirds expressed concern over increased national insurance contributions announced in the recent Budget. With zero growth in the UK economy between July and September, businesses warn that new Budget measures could lead to job cuts and price hikes. Chief Executive Kevin McNamee of Denroy Group highlighted the significant financial impact of these changes and the difficulty in incentivizing business growth.

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