Businesses Slam Budget, Predict No Economic Impact

Employers Slam Governments Budget: Weak Growth, Unconvincing Strategy, and Doubtful Tax HikesEmployers have strongly rejected the latest budget, citing concerns over weak economic growth and a fiscal fantasy within the proposed plans. The budget has been met with higher disapproval than last years, as businesses grapple with new tax increases and rising costs. Government borrowing costs have risen, and investors doubt the Chancellors ability to control borrowing through tax hikes scheduled for the end of the decade. Experts suggest achieving financial goals will require near-heroic restraint in an election year. The budget is unlikely to impact economic output by 2030, and proposed tax increases are small initially but set to rise sharply before a general election. However, theres potential good news for borrowers, as Goldman Sachs predicts four interest rate cuts by next summer, offering relief from the budgets tax increases.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.