UK businesses slash jobs after tax raid

Companies cut jobs at fastest pace in four years after Reeves’s £25bn payroll tax raid – Your Capital Minds

British companies are cutting jobs at the fastest pace in four years following Chancellor Rachel Reeves’s £25 billion payroll tax raid, according to new data from the Bank of England. The central bank’s latest decision-makers panel, which surveys around 2,000 chief financial officers, found that employment fell by 0.5% in the three months to August — the steepest decline since 2021. The survey also revealed that companies plan to cut jobs over t…

Companies cut jobs at fastest pace in four years after Reeves’s £25bn payroll tax raid

British companies are cutting jobs at the fastest pace in four years following Chancellor Rachel Reeves’s £25 billion payroll tax raid, according to new data from the Bank of England. The central bank’s latest decision-makers panel, which surveys around 2,000 chief financial officers, found that employment fell by 0.5% in the three months to August — the steepest decline since 2021. The survey also revealed that companies plan to cut jobs over t…

UK businesses slash jobs after tax raid

UK employers slashed jobs at the fastest pace in four years as companies suffer the costs of tax decisions from Rachel Reeve’s Autumn Budget last year. Companies cut employment by an annual rate of 0.5 per cent in the three months to August. This is the worst figure since 2021, according to a Bank of England survey of chief financial officers. Expectations for employment growth over the next year have also weakened, falling by 0.3 percentage poi…