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A record number of UK businesses are on the brink of collapse due to significant financial difficulties, with 632,756 companies facing closure, a 32% increase from last year. The left-wing Labour Party government plans to impose the largest tax hike in modern history, potentially including higher National Insurance contributions for employers. The impending legislation, including a new “worker’s rights” bill, has sparked concerns among business owners and could have damaging effects on businesses already struggling.
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