Budget cases weigh down economy, British people tighten purse strings to get by.
The operator of a bar in London, Steve Aum, admitted: "Consumption slowed significantly before the budget was announced, as people were waiting to see possible adjustments to personal income tax policies, causing customers to tighten their wallets." According to the latest statistical data, the UK's economic growth rate fell by 0.1% in October compared to the previous month, continuing the declining trend since the summer. Analysis suggests that the slowdown in the UK economy is partly due to the ongoing production disruptions at Jaguar Land Rover, but the uncertainty of Chancellor Rishi Sunak's budget also played a role in exacerbating the situation. The Western traditional holiday shopping season is usually the golden period for the retail industry, but consumers are now more cautious due to high tax burdens and need to be more careful about where they spend their money. They believe this will be a challenging period.
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