One in four consumers will spend less on Christmas if budget tax rises hit income

from London Business News | Londonlovesbusiness.com 4 months ago

RSM UK's survey reveals that 42% of consumers plan to spend less on Christmas due to potential tax rises in the Autumn Budget 2024.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/one-in-four-consumers-will-spend-less-on-christmas-if-budget-tax-rises-hit-income/

Saxon Moseley notes that even with real wage growth, consumer confidence dips due to tax changes may drastically affect hospitality spending during the festive season.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/one-in-four-consumers-will-spend-less-on-christmas-if-budget-tax-rises-hit-income/

Employment costs are set to rise following the budget, with possible minimum wage increases and new NIC on pension contributions, further straining the hospitality sector.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/one-in-four-consumers-will-spend-less-on-christmas-if-budget-tax-rises-hit-income/

Moseley urges government support and business rate reforms to mitigate rising costs and stimulate demand for the hospitality industry in the challenging budget climate.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/one-in-four-consumers-will-spend-less-on-christmas-if-budget-tax-rises-hit-income/

Read at London Business News | Londonlovesbusiness.com

#consumer-spending #hospitality-industry #autumn-budget-2024 #tax-rises #economic-impact

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One in four consumers will spend less on Christmas if budget tax rises hit incomeOne in four consumers will spend less on Christmas if budget tax rises hit income Briefly

One in four consumers will spend less on Christmas if budget tax rises hit income
One in four consumers will spend less on Christmas if budget tax rises hit income
Briefly