"Rising operating costs are tightening the squeeze on London businesses, with 61% reporting higher energy bills in the last quarter, according to the London Chamber of Commerce and Industry's latest quarterly economic survey. As a result, nearly half (44%) expect to raise their prices in the next three months, as concerns grow about how long firms can continue to absorb rising costs. With pressures mounting, many businesses see the forthcoming Budget as a critical moment."
"While firms are calling for targeted tax breaks and incentives to ease the burden, confidence in government support remains low and fears of impending tax rises are increasing. Ministers at last week's Labour Party Conference stressed that fiscal restraint is vital to steady the economy, but business leaders in London warn they cannot withstand additional tax rises without jeopardising growth and jobs. Business confidence in Q3 reflected this tension."
Rising operating costs are forcing London businesses to contend with higher energy bills and squeezed margins; 61% reported higher energy bills in the last quarter and 44% expect to raise prices within three months. Many firms seek targeted tax breaks and incentives, but confidence in government support is low and fears of further tax rises are growing. Ministers emphasised fiscal restraint, while business leaders warn additional taxes would jeopardise growth and jobs. Less than half (48%) expect profitability to improve, 18% foresee turnover falls, recruitment plans are mixed, and domestic orders rose modestly while export gains remained limited.
Read at London Business News | Londonlovesbusiness.com
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