UK business confidence declines to 47% in September amid Labour party tax hike and reform concerns.
UK business confidence has declined to its lowest point in three months, with the Lloyds Bank Business Barometer reporting a drop to 47% in September. This decline is attributed to concerns over proposed tax hikes and workplace reforms by the Labour party, with nearly 20% of businesses feeling less optimistic. Despite a positive GDP growth forecast of 1.1% for 2023, uncertainty surrounding upcoming policies has led some companies to pause investment and hiring plans.
September 29, 2024
17 Articles