
Labour's tax bomb budget causes business confidence to crash to lowest levels since Covid as entrepreneurs accuse Rachel Reeves of undermining growth
Daily MailLabour's tax bomb budget has sent confidence crashing to its lowest levels since Covid as business leaders mourn the loss of their 'natural optimism'. Charities have also urged Chancellor Rachel Reeves to spare them from her £25billion hike in employers’ National Insurance The IoD's optimism tracker plummeted to minus 65 in November - sharply down from minus 52 in October and the lowest score since April 2020 The IoD's optimism tracker plummeted to minus 65 in November - sharply down from minus 52 in October and the lowest score since April 2020. After Labour took office growth shrank to just 0.1 per cent in the third quarter, the joint second-worst in the group Ms Reeves acknowledged that businesses would have to absorb the costs of paying more national insurance or giving out smaller pay rises. Minister for defence procurement Maria Eagle said that departmental costs would increase by £216million as a result of changes outlined in the Budget Tory MP Dr Caroline Johnson accused Labour of having 'given with one hand and taken away with another' after almost 10 per cent of its defence budget boost was shown to have been cancelled out by the increase in employers' National Insurance contributions Anna Leach, chief economist at the IoD, told of how the Budget risked wiping out private sector economic growth.
History of this topic

Poll finds Rachel Reeves is the least trusted politician in Britain on the economy after Chancellor's huge tax raid helped crush growth
Daily Mail
Rachel Reeves has six months to save her job: Rattled Labour MPs issue stark warning to Chancellor as unease over her £15bn plan to slash state spending intensifies
Daily Mail
Chancellor blames global turmoil after GDP fell 0.1% in January - with no mention of Labour's tax raid on National Insurance or raft of new workers' rights
Daily Mail
Rachel Reeves 'plans to slash £5bn' from welfare as she scrambles to find more room for defence spending
Daily Mail
Income tax will have to rise, ex-Bank of England chief warns, as he blasts Reeves’ ‘irresponsible’ promises
The Independent
Reeves’s tax hikes ‘triggering redundancies and record low in business confidence’
The Independent
Can Rachel Reeves survive questions over her expenses and CV?
The Independent
Rachel Reeves is warned UK businesses cannot take any more tax rises - as fears grew that the economy is on the verge of a downturn
Daily Mail
Chancellor's shoddy retread: Reeves must stop the doom-mongering and back UK tech, says ALEX BRUMMER
Daily Mail
Embattled Rachel Reeves jets off to World Economic Forum in Davos - despite fresh alarm over faltering UK economy and warnings from investors of 'debt death spiral'
Daily Mail
Reeves says market uncertainty shows need to kickstart economic growth
The Independent
Rachel Reeves faces questions over future in Hamlet-inspired Tory attack
The Independent
Reeves will be committing ‘political suicide’ if she orders spending cuts, warns John McDonnell
The Independent
Rachel Reeves facing calls to cancel controversial China trip as pound tumbles
The Independent
Rachel Reeves must now tell us when things are going to get better
The Independent
How long will Rachel Reeves last? Labour gloom has put Britain on brink of recession, says MAGGIE PAGANO
Daily Mail
Nigel Farage ‘hasn’t got a clue’ how to fix the economy, says Rachel Reeves
The Independent
How long will the shadow of Reeves’ Budget hang over Britain’s gloomy economy?
The Independent
Blow to Rachel Reeves as leading businessman suggests recession could be ‘around the corner’
The Independent
Reeves faces a recession fears but industrial hollowing could offer a bigger problem
The Independent
UK economy shrinks again in another blow to Reeves, new figures show
The Independent
Rachel Reeves warns Whitehall MUST find 5% efficiencies by 2029 as she channels Thatcher vowing 'iron fist' crackdown on waste - with Labour scrambling to avoid MORE tax hikes
Daily Mail
Business confidence tumbles to two-year low following Reeves’s raid on employers
The Independent
Labour tax U-turn? Rachel Reeves refuses to rule out more rises despite CBI pledge
The Independent
Reeves insists public services will have to ‘live within their means’
The Independent
British economy takes 'a decisive turn for the worse' since the Budget
Daily Mail
UK business confidence lowest since COVID pandemic, IoD says
Live Mint
'Labour are treating businesses like a cash cow to be milked': Anger against Rachel Reeves' £40 billion 'tax-bomb' Budget grows - despite Chancellor ruling out further tax rises
Daily Mail
Rachel Reeves brushes off business: Chancellor tells angry business chiefs nobody has any 'alternatives' to her massive Budget tax raid - despite half of firms warning of job cuts
Daily Mail
Job losses and price hikes inevitable, warn UK’s biggest firms in stark message to Rachel Reeves over Budget
The Independent
Reeves accused of business ‘betrayal’ as top bank warns over tax hikes
The Independent
Rachel Reeves admits she was 'wrong' to say taxes would not have to rise during election campaign after massive Budget raid... as poll finds four in 10 Brits believe package WILL hit their own pockets
Daily Mail
Rachel Reeves plots pensions industry 'big bang' for investment as she scrambles to stop Budget squeezing growth... while poll finds four in 10 Brits believe high-tax package WILL hit their pockets
Daily Mail
Will the Budget cost you money - and did Rachel Reeves do a good job? This is Money podcast
Daily Mail
Voters slam Labour's tax and spend Budget: Only a fifth of Brits think Rachel Reeves' blueprint will boost the economy and half oppose Chancellor squeezing firms to fill Treasury coffers
Daily Mail
Reeves gives Labour post-Budget poll boost despite £40bn tax row
The Independent
Martin Lewis blasts Rachel Reeves for not coming on his ITV Money Show as he tears apart Autumn Budget in a brutal rant
Daily Mail
Britain faces years of ‘muted’ growth after Reeves’ Budget, warns Moody’s
The Telegraph
Rachel Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’
The Independent
Rachel Reeves gambles on £40bn tax rise in her first Budget
The Independent
Brits will end up being paid less after Labour's Budget, admits Rachel Reeves as she refuses to rule out MORE tax hikes and economists warn growth will be crushed record burden
Daily Mail
Labour's £40 billion tax bomb leaves Britons £300 worse off
Daily Mail
DAILY MAIL COMMENT: This was a painful budget - with worse to come
Daily Mail
A Halloween Budget that was as much trick as treat
The Independent
Martin Lewis gives his reaction to the budget: From hiking employers' National Insurance to inheritance tax on pensions, the money saving expert's verdict on Rachel Reeves' £40billion tax raid
Daily Mail
DAN HODGES: This Budget was crude, old-fashioned class politics... and that's why it's bad news for the Tories
Daily Mail
Reeves sets out promise to ‘invest, invest, invest’ in first Budget
The Independent
Autumn budget 2024 predictions: 8 key things to watch out for in Rachel Reeves’s statement
The Independent
Reeves to Raise Taxes to ‘Rebuild’ UK in High-Wire First Budget
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