UK consumer confidence slips on tax fears, outlook deepens gloom ...Middle East

All five measures of confidence declined, while a separate gauge of savings intentions dropped sharply. Economic sentiment about the outlook remains weak at -32.

GfK warned that expectations of tax increases in Finance Minister Rachel Reeves’ November budget could drag confidence down further. Reeves is set to raise taxes on November 26 to stay on track with budget targets, following last year’s increase in employer social security contributions.

Softer confidence and looming fiscal tightening add downside pressure on GBP

For equities, consumer-facing sectors could face headwinds if tax hikes further dampen spending.

This article was written by Eamonn Sheridan at investinglive.com.

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