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“ Rachel Reeves risks being forced into a fresh tax raid next year to shore up Britain’s moribund economy, the head of the Institute of Fiscal Studies (IFS) has said.

Paul Johnson raised concerns after the official estimate of economic growth was revised down to zero for the third quarter of 2024, leaving the country on the brink of recession.

He said that the Chancellor may have to put up taxes again next autumn as a result, despite a record £40bn increase in her maiden Budget that Labour has sought to portray as a one-off emergency intervention.

A study by the Confederation of British Industry this week found that employers are expecting higher prices and job cuts in the coming quarter.

Meanwhile, an Institute of Directors survey earlier this month revealed that confidence among business leaders had fallen to its lowest level since the first Covid lockdown.

Andrew Bailey, Governor of the Bank of England, said last week that uncertainty after the Budget was holding the economy back and making it harder to cut interest rates.“

She’s also been invited to turn off the heating at old people’s homes.

Yup,

By reducing employment, the tax rake goes down and all these W⚓️s will do is come back for more tax from those that are in work or have savings.

This really is one clueless government devoid of people who have business experience.

So we have zero growth already. Recession next.

“ Rachel Reeves’s record tax raid has pushed Britain into a “hiring recession” that has no end in sight, the country’s biggest recruiters have warned.

Michael Stull, of ManpowerGroup, said the Chancellor’s £25bn raid on National Insurance contributions (NIC) had forced employers across the economy to cut jobs.

“Hiring just came to a halt in November,” he said, adding that part-time workers and low paid jobs would be hit hardest by the NIC increase.

“The numbers are very similar to a recessionary period. I know we’re not in a recessionary period, but from a hiring perspective, we are.”

JC Townend, of Adecco, the world’s second-largest staffing firm, said that while it was too early to deliver a decisive verdict on how employers were coping with the increase, hiring was likely to suffer.

She said: “We have started to see early indications from our clients that they may need to offset these additional costs, which is likely to prompt a reassessment of their future workforce needs.”

Nice one Labour 👍

“ Rachel Reeves is being urged to halt a diversity drive officials estimate will cost the City up to £1 billion.

Regulations that will force financial firms to collect and report diversity and inclusion data “threaten British competitiveness” and “erode meritocracy”, the Chancellor has been warned.

In a letter to Ms Reeves, three members of the Conservative front bench point out the proposals are based on “scientifically unsound ... contested ideological principles”.

The new regulations, drawn up by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), require firms to the report sex or gender of employees – as well as ethnicity, age, disability, religion and sexual orientation.

The FCA also wants firms to recognise a lack of diversity as a “non-financial risk”.

“A new “grocery tax” designed to achieve the Government’s net zero targets will push up household shopping bills by up to £1.4 billion a year, The Telegraph can reveal.

Ministers have been accused of “quietly” passing legislation that will see as much as £56 added to household costs annually, according to the Government’s calculations.

The green levy – which will see retailers and manufacturers charged per tonne of packaging materials they use – is aimed at helping the UK to reduce waste and meet its net zero targets.

Under the scheme, they will be charged more for using plastic wrapping than for using paper or cardboard.

But critics have warned that the measure will “push up food costs for every family” while imposing red tape on businesses.

Families have already been hit by rising food prices in recent years, with inflation rising for the second month in a row last week in the wake of Rachel Reeves’s “Budget for Growth”.

According to the impact assessment of the incoming policy, published by the Department for Environment, Food and Rural Affairs (Defra), the new tax will lead to “retail sales increases of around £1.4 billion” in the first year.”

You maybe happy with how the country is imploding so quickly under your communist heroes but then again you don’t live here or pay UK taxes. Oops, apologies, I forgot, you do pay UK taxes as you claim. A bit of VAT on sundry purchases when you visit the UK. Hardly got much skin in the game here have you DCB ?

Maybe you haven’t been following Antony 🙄 I am pursuing an option so my assets don’t go to socialist freeloaders like you.

You too Denby. Labour have ruined a lot of people’s plans in a short period of time and they’re people who had saved for their retirement. Happy Christmas fella.

Exactly BB,

I’m not handing an additional 1/3 of my wealth to the communists DCB approves of. That is the hit to my finances since Labour took power and imposed their budget. I had planned to live off the dividends and bond interest from my pension that I have paid into for decades and leave the capital to my children. The socialists now want to take 40% of that capital.

It’s called redistribution of wealth DCB and is what socialists do. They like to spend the pound in your pocket. Of course the w⚓️s at the top of Labour have looked after their own interests (2nd homes and their gold-plated final salary pensions) and launched a vicious assault on the private sector, the wealth creators. Maybe you’re too dim to see this DCB. Capital flight from this country has already started.

I still live in the UK DCB for now, you don’t. What has any of this got to do with you ?

I think if we had a poll on here as to who is the biggest troll on this BB, DCB, you would win by what they call in racing terms “a distance” - a lot of us remember your incessant trollling over Brexit years ago.

Having a private health system alongside the NHS does not mean NHS privatisation. It’s coexisted since the 1940s. Do some more research before you embark on your trolling exercises DCB.

No it isn’t DCB. Private Healthcare began in the 1940s in the UK ffs. You really are totally misinformed as usual.

**There is no mentioning of privatising the NHS in your BBC article. Just more trolling nonsense from you. Are we going to have another day of your 🎣 for attention ?

I notice you ignore the extra £17bn a year Reform has said it would put into the NHS. Far in excess of Labours commitment. Encouraging companies to pay for private health insurance for their employees is no bad thing. I’ve had a lot of treatment privately through my company which relieved the NHS of its commitment to me.

There is nothing wrong mentioning of privatising the NHS in your BBC article. Just more trolling nonsense from you. Are we going to have another day of your 🎣 for attention ?

DCB,

Where have Reform said they are going to privatise the NHS ? Care to quote or are you just mischief-making and trolling again ? Tice has said that increasing private sector involvement in the NHS could help alleviate some of the strain. Not the same thing at all.

More 💩 from you as usual.

You’re on thin ice DCB talking about pensioners. Labour seems hell bent on taxing them or freezing them to death.

He’s got a point 🤣