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flag UK businesses plan layoffs and price hikes due to rising employment costs, survey shows.

flag UK employers are planning significant layoffs and hiring freezes in response to increased employment taxes and wages, according to a CIPD survey. flag Nearly a third of businesses expect to reduce their workforce, while 42% plan to raise prices. flag Small business confidence is at a five-year low, with the Federation of Small Businesses reporting a dramatic drop in sentiment. flag The planned increases in National Insurance contributions and the national living wage are seen as major factors behind the planned cuts.

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