In the largest poll of business sentiment since October's Budget, the BCC's Quarterly Economic Survey reveals that tax worries have surged to 63%, the highest in records.
A business leader criticized Labour's policies, stating, 'Labour's decision to increase National Insurance for businesses has been a hammer blow to confidence, reversing investment plans.'
Business confidence has narrowed with only 49% of firms expecting improved turnover over the next year, a decline from 56% in Q3, with retail and hospitality sectors most affected.
The survey conducted with over 4,800 businesses shows a significant rise in concern over taxation, now at the highest level since 2017, affecting production and manufacturing firms.
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