Story perspectives

UK CFOs Warn of Gloom Amid Hiring Slump

1/13/2025

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Summary

Story summary

UK business leaders are increasingly pessimistic, with 26% of CFOs reporting a negative economic outlook in a Deloitte survey.
Hiring expectations have fallen to a four-year low due to rising national insurance costs from the recent budget.
Some predict modest growth in 2025 as inflation concerns ease, making the UK more appealing for investment than Europe.
The Chancellor is under pressure to revise fiscal plans in response to rising government borrowing costs and business criticism.

History

Historical Context

UK CFOs' pessimism echoes the early 1990s recession, when rising costs and inflation led to significant economic downturns. Just as then, current pressures on hiring reflect a loss of confidence, prompting calls for fiscal revisions to stimulate growth and restore business optimism in a challenging landscape.

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Story summary

UK business leaders are increasingly pessimistic, with 26% of CFOs reporting a negative economic outlook in a Deloitte survey.
Hiring expectations have fallen to a four-year low due to rising national insurance costs from the recent budget.
Some predict modest growth in 2025 as inflation concerns ease, making the UK more appealing for investment than Europe.
The Chancellor is under pressure to revise fiscal plans in response to rising government borrowing costs and business criticism.

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