UK businesses expect reduced output and hiring in 2025 due to a national insurance hike.

UK businesses are pessimistic about 2025, expecting reduced output and hiring due to the October budget's national insurance hike, which could raise £25 billion annually. The Confederation of British Industry’s survey of 899 companies shows expectations for growth are at their lowest since November 2022, with declines expected across services, sales, and manufacturing sectors. The Bank of England has warned of rising uncertainty and held interest rates at 4.75%.

3 months ago
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