Tax hikes blamed for slide in business confidence as KPMG forecasts growth boost

According to the British Chambers of Commerce, business confidence in Britain has dropped to its lowest level since the economic fallout from Liz Truss's controversial mini-budget.

KPMG suggests the UK economy is expected to grow faster than anticipated this year, driven by additional public spending despite the dip in business confidence.

Shevaun Haviland emphasized that companies are already scaling back on investment and might raise prices due to the impact of the new tax measures.

Chancellor Rachel Reeves's budget, involving tax increases and substantial public investment, aims to stabilize the economy but has raised concerns among businesses about higher taxation.

Read at Business Matters