Mark Veldon, Co-Head of EMEA comments on the Spring Forecast

“Amid the economic conditions, the Spring Forecast was never going to be a passive update. With the National Insurance and minimum wage increases planned for businesses from next month, the lack of any further tax rises will be welcome. 
 
“Given the current climate, we’re witnessing two key behaviours among businesses; while some are pushing forward with conviction, others are moving cautiously. As a result of this disruption, companies may be compelled to increase product prices, consider staff restructurings and navigate reduced investment in the private sector. Consumer-facing businesses, such as retail, hospitality and leisure will feel particular pressure, which could curtail growth and drive inflation.”