Hiring Confidence Lowest in 13 Years as Businesses Brace for Tax Hikes – Guido Fawkes

Hiring Confidence Lowest in 13 Years as Businesses Brace for Tax Hikes

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Hiring confidence has plunged to its lowest level in 13 years, according to accountancy and business firm BDO’s latest Employment Index, which slid again in June, dropping to 94.22. The report finds firms are now “holding back recruitment” as Downing Street limbers up for yet more tax rises after Starmer’s U-turns on winter fuel and welfare. This follows gloomy payrolled employment data, which showed a staggering 109,000 jobs were lost in May alone…

Meanwhile the Confederation of British Industry reports over half (52%) of employers in financial services expect their workforces to shrink by September, citing “heightened economic uncertainty”. CBI Chief Economist Alpesh Paleja warned:

“Conditions deteriorated in the financial services sector over the second quarter, with business volumes falling at their fastest pace since late 2023 and sentiment dropping sharply.”

Numbers will likely only get worse after Autumn…