The survey of 266 business leaders found that 62% intend to reduce recruitment, nearly half expect layoffs, and 46% plan to delay employee pay rises.
Rain Newton-Smith, CBI's chief executive, is expected to criticize the government at the CBI's annual conference, arguing that the tax increases undermine the UK's competitiveness and growth potential.
She will emphasize that profits are critical for reinvestment in communities, workforce training, and economic expansion.
The British Retail Consortium estimates the Budget measures will add £7bn to costs for businesses, with major retailers already warning of inevitable job cuts.
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