UK Businesses Scale Back Growth Plans Amid Rise in Tax Rates

In a shocking shift, businesses across the UK are scaling back their growth plans with nearly half of surveyed companies pledging to cut headcount, according to the Confederation of British Industry. The economic climate is growing increasingly uncertain, with two-thirds of enterprises intending to slow down hiring due to rising tax rates announced in the budget.

The news comes after a series of high-profile business appointments, as former BP CEO Bernard Looney takes on an influential role at US-based data center company Prometheus Hyperscale. This move comes as the global data storage industry continues its rapid expansion.

Meanwhile, concerns are mounting over patient safety in the UK healthcare sector, with calls emerging for greater monitoring of staff use of messaging apps like WhatsApp. This comes as healthcare officials struggle to strike a balance between modernizing services while maintaining patient confidentiality.

In another controversy, Rachel Reeves' proposed inheritance tax on pensions has drawn fierce opposition from wealth managers, who warn that such measures could pose significant risks to beneficiaries. The proposal is sparking a heated debate about the impact of government policy on the nation's wealthiest individuals.

A local newsroom in Bengaluru has compiled the latest updates on these pressing issues and other business insights.