Quarter of UK employers plan to cut jobs before tax rises bite, survey finds
- Chancellor Rachel Reeves faces potential spending cuts due to economists questioning the Office for Budget Responsibility's forecasts after productivity declined.
- Citigroup's UK economist Ben Nabarro warned that a slight reduction in productivity growth could create a significant financial gap of £7 billion to £8 billion.
- Labour productivity shrank by 2.4 percent in the third quarter of 2024, based on official data.
- Economist Andrew Wishart noted that the OBR's prediction of a sustained productivity rebound is 'starting to look insane' amid sluggish economic performance.
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Millions of jobs at risk as UK firms mull 'biggest layoffs in a decade' amid plunging business confidence
UK employers are readying for mass redundancies amid collapsing business confidence, in what's been described as the biggest round of layoffs in nearly a decade.
·London, United Kingdom
Read Full ArticleUK economy at risk as Reeves faces £8bn hole in public finances after OBR's bullish forecasts under fire
Chancellor Rachel Reeves faces the prospect of deeper spending cuts as economists question the Office for Budget Responsibility's optimistic productivity forecasts
·London, United Kingdom
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Leaning Left2Leaning Right5Center4Last UpdatedBias Distribution45% Right
Bias Distribution
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45% Right
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C 36%
R 45%
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