Tax Hikes Are Forcing Businesses to Tighten Belts—And Jobs Are on the Line

With tax increases looming, business leaders are slashing costs and freezing hiring at levels not seen since the pandemic. According to Deloitte, two-thirds of finance directors won’t increase hiring this year, and over half prioritise cost-cutting above all else. Meanwhile, automation and productivity pushes are gaining traction as employers face rising national insurance costs and wage bills.

The Bank of England and experts warn of uncertainty ahead, though potential rate cuts may ease some pressure. Despite the gloom, manufacturers remain optimistic, urging the government to solidify a long-term industrial strategy to sustain innovation and growth.

What’s next for businesses, jobs, and the economy? Dive into the full story to find out.