UK businesses warn of ‘autumn storm’ of shortages, costs and taxes

Receive free UK business & economy updates

UK business leaders have warned ministers about an “autumn storm” of rising taxes, escalating costs, labour shortages and supply disruption as government Covid-19 support schemes come to an end.

Business groups are reporting a sharp fall in confidence among members after the summer, when many had been buoyed by the Covid vaccine rollout and end of restrictions.

However, third-quarter data that will be published next week by the British Chambers of Commerce is expected to show that rising costs for wages and materials, along with skills shortages are causing concern.

The Institute of Directors will report on Friday that data collected this month show a sharp drop in business confidence following the announcement of a proposed increase in national insurance that will hit businesses next year.


Read more…