Half of UK firms warn of imminent price hikes More than half of UK firms are predicting price hikes in the next three months as they prepare to swallow Chancellor Rachel Reeves's tax bombshell.
Some 63 per cent said tax was a concern, the highest on record, and only 49 per cent expected turnover to increase this year, the lowest figure since the mini-budget.
A British Chamber of Commerce poll revealed 55 per cent of firms expect prices to increase in the first quarter of 2025, with labour costs being the biggest driver.
Hit hard: UK firms are preparing to swallow Chancellor Rachel Reeves's tax bombshell.
It comes as business confidence in the UK collapsed to its lowest level since the Liz Truss mini-budget in late 2022.
