UK Companies Defy Tax Hikes With Plans to Hire, Survey Finds (1)

UK business confidence rose this month to its highest in almost a decade with an increased majority of firms planning to hire more staff in the coming year despite Chancellor of the Exchequer Rachel Reeves’ tax hikes, a survey found.

More than 80% said sharp increases to payroll taxes and the minimum wage that took effect in April would have only a limited impact on their staffing plans, the Lloyds Business Barometer showed. Hiring intentions rose for a fourth month, with 62% of businesses planning to add workers over the next 12 months.

Business optimism rose 2 percentage points ...