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UK Business Confidence Plummets to Lowest Point Since 'Mini-Budget' Crisis

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Business Confidence,UK Economy,Tax Increases

Confidence among UK firms has fallen to its lowest level since the 'mini-budget' crisis in autumn 2022, according to a survey by the British Chambers of Commerce (BCC). The BCC cites worries about covering additional costs due to tax increases, particularly National Insurance, leading to potential investment reductions.

Confidence among U.K. firms has tumbled to its lowest level since the market-rocking "mini-budget" crisis of fall 2022, according to a survey by the British Chambers of Commerce.

The BCC cited firms in hospitality, manufacturing, construction and health-care expressing worries about how they would cover additional costs and saying they would likely scale back investment.UK firms are planning to raise prices to cover higher tax payouts as confidence among businesses tumbled to its lowest level since the market-rockingThe BCC said 63% of businesses cited tax as a worry in the survey, up from 48% in the third quarter.

The BCC cited firms across hospitality, manufacturing, construction and healthcare expressing worries about how they would cover additional costs and saying they would likely scale back investment.argues tax rises were necessary

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UK Business Confidence Plummets to Record Low Amid Tax ConcernsA recent survey by the British Chambers of Commerce (BCC) reveals a significant decline in UK business confidence, reaching its lowest point since the 'mini-budget' crisis of 2022. The survey attributes this decline to increased tax burdens, particularly the hike in National Insurance (NI) for employers, as outlined in the Labour government's debut budget.
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UK Business Confidence Plummets to Lowest Level Since 2022 CrisisConfidence among UK firms has dropped to its lowest point since the 'mini-budget' turmoil of fall 2022, according to a British Chambers of Commerce survey. The survey highlights concerns about rising taxes, particularly National Insurance, and their impact on business investment and growth. Many firms plan to increase prices to offset higher costs.
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