A recent survey revealed that British companies are expected to increase prices and cut headcount amid a significant drop in confidence among small businesses, achieving a five-year low. The Chartered Institute of Personnel Development (CIPD) indicated that 90% of employers anticipate higher taxes and employment costs as unsustainable. Following last year’s Autumn Budget announcement by Rachel Reeves, 42% of companies plan to raise prices while 32% may reduce staff, highlighting the urgent need for government intervention to spur growth in the struggling economy.
"Employer confidence has been impacted by planned changes to employment costs, and employment indicators are heading in the wrong direction."
"The fourth-quarter blues reported by small firms underline how urgently the government's growth push is needed."
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