February 4, 2023

UK crisis is forcing businesses to halt investment:

Business group portrait - Seven business people working together. A diverse work group.

British company owners are having to pull investments as the economic crisis has hiked up borrowing costs and even ability. This has shaken the confidence of the Brits, the same economy which was once known as the “haven of stability,” by many. In the last month, business leaders have had to contend with radical changes to tax, a collapse in the pound and a surge in borrowing costs that forced the appointment of a new finance minister to reverse the tax cuts and slash spending instead. A two-year scheme to help homes and businesses with high energy costs has been cut to six months to save money. Britain has had four finance ministers in just four months. Prior to the 2016 Brexit vote, Britain had four finance ministers in 23 years, underlining a sense of stability that is now gone.

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Is the once succeeding country falling to its doom?

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