Reeves Taxes Blamed for New Nosedive in Business Confidence – Guido Fawkes

Reeves Taxes Blamed for New Nosedive in Business Confidence

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The closely watched Institute of Directors’ Economic Confidence Index shows UK business confidence has crashed to -53 in June, down from -35 in May. A major nosedive…

Hiring plans have gone the same way, with expectations tumbling from -1 to -10. Again, Reeves’ tax raid is being blamed. Chief economist at the IoD Anna Leach said:

“Business leaders are finding economic conditions increasingly challenging, both as Autumn Budget tax measures take effect – particularly changes to national insurance, business and agricultural property relief.”

Economists warn more tax hikes would slam the brakes on growth and leave the Treasury with even less cash. Meanwhile, Starmer’s mounting U-turns leave Downing Street already setting the scene for more taxes in the Autumn. Growth, anyone?