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UK tax uncertainty stalls housing market, threatens jobs amid fiscal gap and rising unemployment.
Uncertainty over UK property and business tax reforms ahead of the November Budget is stalling the housing market and threatening jobs, with experts warning that uncosted proposals—like a mansion tax and higher business rates—could harm growth.
A survey shows 56% of firms would cut jobs if taxes rise, as unemployment hits 4.8%, the highest since the pandemic.
The government faces a £30 billion fiscal gap and is considering windfall levies and business rate changes, but critics caution further tax hikes may worsen inflation and reduce investment.
Meanwhile, fiscal drag is pushing middle-income earners into higher tax brackets, fueling concerns about fairness and economic stability.
La incertidumbre tributaria en el Reino Unido paraliza el mercado de la vivienda, amenaza los empleos en medio de la brecha fiscal y el aumento del desempleo.