Business confidence has hit a record low, according to the latest Institute of Directors survey. Optimism in the economy fell to -74 in September, a 13-point drop from last month. That’s the lowest level since the survey began nine years ago. And below levels after Truss’ mini-budget…
Businesses blame looming tax hikes in the Winter Budget, with the IoD’s Chief Economist Anna Leach saying:
“Conditions worsened across the board, with cost expectations hitting a record high, driven notably by employment costs. Persistent fears that taxes on business and assets will rise are stifling confidence, holding back investment and threatening growth and living standards.”
Starmer thanked businesses for their “contribution” in his speech yesterday after the last tax raid. Soon he won’t have many businesses left to thank…
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