Higher business taxes take toll on UK economy as companies cut back hiring

Fall in private sector employment blamed on Reeves’ £25bn increase in employers’ national insurance contributions

Topics

UK economy unexpectedly shrinks by 0.1%

October contraction marks second consecutive fall and deals blow to Labour government’s economic agenda
Financial Times - 3d
Middle and higher earners face increasing tax burden

Budget measures combine with legacy ones to raise tax bills
Financial Times - 3d
ECB Cuts Interest Rates as the Economy Weakens

The bank has been lowering rates since June as inflation slowed, but other risks are growing, including the threat of higher tariffs promised by President-elect Donald J. Trump.
The New York Times - 4d
Australia to introduce ‘news tax’ on tech companies

Move is designed to close loophole after Meta walked away from existing deal to use media content
Financial Times - 4d
Tax Cuts Were Top of Mind at the Tax Foundation’s Annual ‘Prom’

Republican control of Washington and a tax bill next year have corporate America excited — and on edge.
The New York Times - 6d
Hiring falls more sharply in UK than other major economies

Slowdown in British recruitment unusual because it involves low-wage sectors, according to data from website Indeed
Financial Times - 6d
UK businesses expect lower margins and higher prices after Budget

Survey finds 54% of companies plan to raise prices in 2025 after national insurance increase
Financial Times - Dec. 5
Trump Tax Cuts Won’t Help the Economy Grow, Budget Office Finds

A larger debt and higher interest rates would cancel out the boost from keeping individual taxes lower, the nonpartisan Congressional Budget Office found.
The New York Times - Dec. 4
Businesses and Job Seekers: Beware of This Hiring Scam

Scammers might be using your business’s job posting to make a buck.
Inc. - Dec. 3