UK businesses brace for economic gloom in 2025

Businesses are preparing for economic uncertainty in the new year following Rachel Reeves’s Budget, with a CBI survey revealing plans for reduced output and hiring. Expectations for growth are at their weakest since Liz Truss’s time in office, largely due to the chancellor’s national insurance hike. Despite defending her tax increases as necessary for economic stability and growth, Reeves faces criticism as the economy faces a bleak outlook.

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