A record number of businesses in the UK are “on the brink of collapse” as the left-wing Labor government in Westminster reportedly plans to impose the biggest tax rise in modern history.
Research carried out by business advisory firm Begbies Traynor has found that 632,756 businesses in the UK are facing serious financial difficulties and could be forced to close.
This represents a 32 per cent increase compared to this time last year and a 5.1 per cent increase since Sir Keir Starmer's left-wing government took office in July.
The survey found that the construction, real estate and support services sectors are struggling the most in the current economic climate. daily mail report.
When Prime Minister Rachel Reeves reportedly The government plans to announce its largest tax increase in the fall budget. Her plans are likely to include an increase in the contributions bosses must pay to the state in their employees' national insurance.
The mere threat of major tax increases has already seen many wealthy people decide to leave the country for more business destinations such as Dubai and Sweats.
Meanwhile, the government is aiming to pass a new “workers' rights” bill to ensure trade union support, but business owners say the bill will make the hiring process even more difficult. I'm concerned.
The impending bill has come under fire for its controversial provisions, which free speech campaigners have warned could force companies to hire “joke police”. The left-wing government is seeking to make companies liable if third parties claim they have offended them.
Rick Traynor, chairman of Begbies Traynor, said: “Many business leaders are waiting with bated breath for clarity on what the next Budget will deliver.
“The mood music leading up to the Budget has many business leaders predicting that businesses and investors will bear the brunt of the tax changes.”
Begbies Trainer Julie Palmer added: [of the Budget] It can harm many companies that are on the verge of collapse. ”
