Bank of England's Andrew Bailey on Tax Changes and Job Market Impact
In today's episode of UK Business Morning, Alice and Lewis discuss the latest comments from Bank of England Governor Andrew Bailey on how new tax measures are affecting the UK job market and economy.
Join Alice and Lewis as they break down Andrew Bailey's recent remarks on Labour's national insurance contribution increases and their impact on employment. The Bank of England Governor highlights how businesses are adjusting by cutting hiring, working hours, and pay, while also signaling potential interest rate cuts. The hosts explore the signs of an easing labor market, the effects of public finances on future tax rises, and the Bank's cautious approach to tackling inflation. With insights into GDP growth, trade dynamics, and the delicate balance of monetary policy, this episode offers a comprehensive look at the shifting economic landscape in the UK.
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