Rachel Reeves has been urged not to do ‘any further damage’ to jobs as the number of people looking for work rises at the fastest rate since the depths of the pandemic.
As speculation mounts over yet more tax hikes in the Budget in November, recruitment experts pleaded with the Chancellor to ease pressure on employers to boost hiring.
But leading accountancy group KPMG said ‘speculation’ about Labour’s Budget plans – such as higher taxes and more borrowing – meant job prospects were unlikely to improve any time soon.
The warnings, in a report by KPMG and the Recruitment and Employment Confederation (REC), came as Britain is gripped by weak economic growth, rising unemployment and a fresh surge in inflation.
Concerns about the outlook have sent government borrowing costs soaring on global bond markets.
