Budget Blows Up the Wallets of Small Biz? 62% in Disbelief!
When the Autumn Statement landed, a whopping 62% of UK small‑business chiefs felt their pockets had taken a hit and that the government missed a few opportunities to give them a lift.
Who’s Feeling the Pinch?
- 11% believe the budget gave enough support.
- 22% remain neutral, shouting “maybe.”
- Only 22% say the new employer National Insurance (NI) hike didn’t sting.
NI Hikes: The Sweet & Sour of Taxation
More than half (54%) feel the NI jump hurts their bottom line. Yet 22% shrug it off, and another 22% stay on the fence.
Labour’s Heroes or Bane?
Labour’s agenda hits a mixed note. 39% of all business leaders see a brighter outlook for their companies, while 31% fear a darker future. Medium‑sized and larger firms (250+ employees) are more optimistic—60% are upbeat, 27% think nothing will change.
Almost half (46%) accuse Labour of having to hike taxes because of a hefty inheritance from the Conservatives, versus 32% who disagree.
Macro‑Mood: Economy on the Edge
- 40% say the budget will boost the UK economy.
- 42% warn it could re‑sunder it.
Matt McGinn, Savanta consultant, summed up the vibe: “It’s a bit of a roller coaster. There’s a lot of scepticism about extra taxes, but a sense that big employers should get some breathing room. The reaction isn’t black or white – it’s as nuanced as your favourite espresso blend.”
Bottom Line
All in all, the budget has stoked a chorus of complaints, a sprinkle of caution, and a dash of cautious optimism. The take‑away? Small‑biz leaders are keenly aware that every tax move feels like a tug‑of‑war between the “needs to survive” and “needs to flourish.”
