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Business sentiment in UK services sector is falling at the fastest rate in two years ...Middle East
The CBI survey shows UK services sector sentiment falling at its fastest pace in two years, driven partly by tax increases in Finance Minister Rachel Reeves’ October 30 budget, according to the Confederation of British Industry (CBI). The decline is most severe in consumer services, where a £25 billion payroll tax hike heavily impacts large employers. Sentiment among consumer services firms dropped sharply to -55 in November from -19 in August, while business and professional services fell to -29 from +9.CBI Deputy Chief Economist Alpesh Paleja attributes the drop in optimism, weaker hiring intentions, and rising cost pressures to the forthcoming increase in employer National Insurance Contr
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