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UK business confidence hits five-year low amid tax hikes, costing jobs and raising prices.
UK business confidence has hit a five-year low, primarily due to upcoming tax increases and rising employment costs.
Nearly a third of firms plan to cut jobs or reduce hiring, while over 40% intend to raise prices.
The Federation of Small Businesses reports a significant drop in confidence, falling to -64.5 points, its lowest since the start of the pandemic.
Finance Minister Rachel Reeves defends the tax hike as necessary for public finances, but the Bank of England has lowered its 2025 growth forecast to 0.75%.
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La confianza de las empresas del Reino Unido alcanza un nivel bajo de cinco años en medio de aumentos de impuestos, lo que cuesta trabajo y eleva los precios.