UK firms halt investments and hiring as Iran war pushes up costs, bosses warn
The Guardian reports:
The worsening fallout from the Iran war is forcing businesses to halt their UK investment and hiring plans, bosses have warned, as Britain enters a renewed period of political and economic instability.
More than two months into the US-Israeli war on Iran, leading surveys of UK employers showed companies were increasingly prioritising cost management over growth as rising costs and global uncertainty weigh on confidence.
According to a survey by the accountancy firm BDO, more than half of medium-sized businesses said higher energy and fuel costs, combined with supply chain pressures, were the biggest challenges they face as the Middle East conflict continues.
Amid rising domestic political uncertainty as Keir Starmer’s Labour government braces for a leadership challenge, business leaders said companies were holding back from investing in Britain.