More than half of UK companies plan to raise prices in the next three months due to rising costs and taxes, fearing low confidence and inflation.
Nearly two-thirds of firms are worried about taxes after the recent Budget, which included a rise in national insurance contributions from April.
KPMG forecasts suggest economic growth could reach 1.7% in 2024, driven by increased consumer spending, but may lead to more persistent inflation from businesses adjusting prices.
Businesses are raising concerns that recent Budget measures, especially higher employer NICs and the National Living Wage increase, could result in job cuts.
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