UK businesses are experiencing a significant drop in confidence, with the ICAEW's business confidence monitor falling to minus 3, the lowest since late 2022. The decline is attributed to increased employer national insurance contributions and rising inflation, coupled with global trade tensions stemming from US tariffs. Employment growth is slowing ahead of these tax changes, indicating a challenging environment for businesses. Economic forecasts have been downgraded, reflecting the overall concern about future sales performance and the impact of tax hikes on business operations.
UK businesses are grappling with what's being described as a "harrowing" year, as confidence slumps in response to rising domestic tax burdens.
These figures suggest that this year has so far been a pretty harrowing one for the UK economy, as accelerating anxiety over future sales performance...
Collection
[
|
...
]