A Treasury spokesperson said: “We delivered a once-in-a-parliament Budget to wipe the slate clean and deliver the stability businesses need to invest and grow, while protecting working people’s payslips from higher taxes, ensuring more than half of employers either see a cut or no change in their national insurance bills, and delivering a record pay boost for millions of workers.
Critics said the findings show the tax raids were “a millstone” around the neck of the economy, while business leaders said the government “urgently” needs to push for economic growth.
A separate survey found that confidence among small businesses hit its lowest recorded level outside the pandemic in the final quarter of last year.
Liberal Democrat Treasury spokesperson Daisy Cooper added: “Her misguided national insurance rise is clobbering small businesses and could end up costing people their livelihoods as companies scramble to cover the costs.
The Federation of Small Businesses (FSB) said a survey of almost 1,400 firms found that those in accommodation and food services were the least optimistic.
