The article discusses the critical state of the UK economy under Rachel Reeves, highlighting that her proposed Budget tax hikes have prompted a spike in employer redundancies and worsened business confidence. A survey shows that 90% of employers anticipate higher employment costs, leading many to consider reducing staff or cutting hiring. Critics argue that these tax increases are undermining economic growth, as businesses struggle with unprecedented pressures, raising questions on how to stimulate economic stability and employment.
"A survey of more than 2,000 employers by the organisation found nine in 10 businesses expect their employment costs to rise. Of these, a third said they plan to reduce staff through redundancies or recruiting fewer workers."
"The number of companies planning to make staff redundant has reached its highest level in a decade outside the Covid pandemic, according to a new survey."
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