UK firms offer no festive cheer with gloomy outlook for 2025

NAMPA / DPA

2024-12-23

London (PA Media/dpa) - Businesses have issued a stark warning to UK Finance Minister Rachel Reeves that the economy is "headed for the worst of all worlds" with activity expected to fall sharply in the first three months of 2025. A major survey by the Confederation of British Industry (CBI) found firms expected to reduce both output and hiring. Reeves' hike to employers' national insurance, set to rake in around £25 billion ($31 billion) a year,......

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