UK business output is contracting for the first time in over a year, as tax increases from last month's budget negatively impact companies, revealed by S&P Global.
The flash UK PMI Composite Output Index has dropped to a 13-month low of 49.9, indicating a marginal contraction in economic activity across the UK.
Liberal Democrat leader Ed Davey criticized the national insurance hike, arguing it is damaging social care and could threaten the survival of small care providers.
The Nuffield Trust warned that large parts of England's adult social care sector are on the brink of collapse due to fiscal policy changes, risking the welfare of vulnerable populations.
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