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Bosses’ confidence falls to record low as Reeves plots fresh tax raid
The Institute of Directors reported a record low confidence index of minus 74 amid rising labour, supply chain, and energy costs affecting UK firms.
- The IoD's September survey showed the economic confidence index at minus 74 last month, marking the lowest level since the index began more than nine years ago.
- After government wage and NICs rises, firms blamed higher labour costs, with around 83% of surveyed leaders linking the downturn to labour, supply chain inflation, and energy costs.
- A poll of 588 bosses found cost expectations at plus 89, hitting record highs while investment expectations and hiring plans slipped but stayed above the November 2024 low.
- Firms say the prospect of more taxes is stifling investment, with Chancellor Rachel Reeves' 25 billion national insurance rise blamed for price hikes and job market damage.
- Against that backdrop, the Institute of Directors urged the Chancellor to outline a `more coherent and credible plan` as firms warned the workers' rights bill and `day one rights` risk harming hiring unless protections delay unfair dismissal until six months.
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14 Articles
Labour’s Bid to Charm Business Ends With Confidence at New Low
A UK indicator of business sentiment logged a record low as the governing Labour Party’s annual conference wound down in Liverpool with executives warning Chancellor of the Exchequer Rachel Reeves against further tax rises.
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Coverage Details
Total News Sources14
Leaning Left3Leaning Right4Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 38%
12%
R 50%
Factuality
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