Over half of firms surveyed said they would stop hiring if Reeves hikes taxes

More than half of businesses would cut staff or stop hiring if taxes are hiked at this year’s Budget, a leading survey of accountants has found, a fresh warning that Chancellor Rachel Reeves risks inflicting further damage on the UK jobs market.

Reeves has publicly said that she was considering making tax hikes at this year’s Budget as her £9.9bn headroom looks set to be taken out by a fiscal hole valued at around £30bn.

A survey of around 650 business professionals has sent Reeves a fresh warning on the damage further tax hikes could inflict on firms.

The Institute of Chartered Accountants in England and Wales (ICAEW) said data showed 56 per cent of businesses claiming they would reduce headcount or intr

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