UK employers target wage bill to offset tax hikes as gloom persists

A clear majority of British businesses look set to cut the size of pay awards for staff in response to coming tax hikes and they remain pessimistic about the outlook for the economy, two surveys showed on Monday.

Data provider Incomes Data Research said 69 per cent of employers it canvassed were extremely or moderately likely to reduce pay awards to offset an increase in payroll taxes announced by finance