UK firms plan price rises as business confidence falls to lowest level since 2022 ‘mini-budget', survey finds

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-rocking>Sign up for NBC San Diego's News Headlines newsletter.

The percentage of companies saying they expected turnover to increase in the next twelve months fell to 49%, from 56%. Concerns about to plug a major shortfall in the public finances left by the previous administration. It has also previously stated that more than half of U.K. employers will either experience a cut or no change in their national insurance bills due to exemptions."We recognize what said, that she's got to increase taxes to fill her black hole, but what we need to see her do now is mitigate against that.

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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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