Half of British companies warn of upcoming price rises
More than half of British businesses are forecasting price rises over the next three months as they prepare for Chancellor Rachel Reeves’ tax bomb.
It comes as business confidence in Britain collapsed to its lowest level since the Liz Truss mini-budget at the end of 2022.
A survey by the British Chamber of Commerce found that 55 percent of businesses expect prices to rise in the first quarter of 2025, with labor costs the biggest driver.
About 63 percent said taxes were a problem, the highest on record, and only 49 percent expected revenues to rise this year, the lowest figure since the mini-budget.
Hard hit: British companies prepare for Chancellor Rachel Reeves’ tax bomb
“Business confidence has collapsed due to a pressure cooker of rising costs and taxes,” said BCC chief Shevaun Haviland.
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