Business Confidence Plummets1 Jul 2025 15:55
“RACHEL REEVES has been warned that a new tax raid to fund benefit about-turns risks “undermining the UK economy”, as business confidence crumbles.
The Institute of Directors’ (IoD) closely watched survey of bosses’ confidence tumbled to minus 53 in June from minus 35 in May. The lobby group blamed the impact of the Chancellor’s National Insurance tax raid, which took effect in April, and gloom from Donald Trump’s trade war.
Against this weak backdrop, Anna Leach, the IoD’s chief economist, warned that a further tax raid in the autumn risked being self-defeating as it could cripple growth and lead to even lower taxes for the Treasury. She said: “If you go after businesses again, there is a very real danger of that undermining the UK economy and leaving it in a less stable position – and undermining the very revenues that you’re trying to drive up.”
Who voted for these morons ? Not me……