consultancy firm AxiaOrigin, said the government’s tax policies were causing uncertainty for businesses.
„The tax changes proposed in the budget are creating a great deal of uncertainty for businesses, particularly in the tech sector,” he said in an email. „Many firms are still unsure about how these changes will affect their bottom line, making it difficult to plan for the future.”
Looking ahead
Despite the challenges facing the U.K. economy, some analysts see potential for improvement in the coming months.
„While there is a lot of pessimism in the market right now, there are also some reasons to be cautiously optimistic,” said Mark Peterson, chief economist at U.K. investment firm Bellwether Capital. „The Bank of England’s decision to cut interest rates should help stimulate economic activity, and there are signs that consumer confidence is starting to improve.”
„It’s still early days, but there is potential for a turnaround in the U.K. economy if the right policies are put in place,” he added.