A recent survey from the London Chamber of Commerce and Industry found that over half of London businesses (51%) believe rising National Insurance contributions will adversely affect their operations. Furthermore, 47% expressed concerns that the measures outlined in the Autumn Budget will hinder UK economic growth, while 46% anticipated detrimental impacts on London's economic future. A significant number of business leaders (81%) lack confidence in the Government's responsiveness to their concerns, emphasizing an urgent need for governmental intervention to support the struggling business environment.
Karim Fatehi OBE, Chief Executive of the London Chamber of Commerce and Industry, stated, 'While we recognise that difficult decisions had to be made, it should now be clear to the Government that businesses are seriously concerned about the effects of increased National Insurance contributions.'
A recent survey indicates that 51% of London businesses believe that the rising National Insurance contributions will negatively impact their operations, demonstrating widespread concern within the industry.
The polling found that only 27% of businesses felt the Chancellor's policies would improve UK economic growth, highlighting a significant disconnect between government measures and business confidence.
With 81% of London business leaders feeling the Government is unlikely to address their concerns, the environment for business growth appears increasingly pessimistic.
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