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Chancellor urged not to raise taxes on ‘drained’ businesses in Budget
- Next month, the British Chambers of Commerce urged Rachel Reeves, Chancellor of the Exchequer, to avoid raising business taxes in November’s Budget as firms remain fragile.
- After last year's tax rises, Ms Reeves is facing weak business confidence, with BCC director-general Shevaun Haviland saying firms felt `drained` and `struggling to find momentum ever since`.
- Calling for concrete changes, the BCC proposed reforming business rates, removing the windfall tax on oil and gas, and outlined more than 60 recommendations including infrastructure investment and customs barriers.
- With firms warning of a make-or-break Budget, the Treasury spokesperson said the chancellor would balance funding public services with supporting growth.
- With limited headroom from the spring statement earlier this year, economic indicators show higher inflation, rising borrowing costs, and some economists say Ms Reeves may need another 50 billion to meet targets.
8 Articles
8 Articles
Rachel Reeves warned businesses can't take more tax hikes as Chancellor prepares for 'make or break' Budget
Britain’s businesses have sounded the alarm to Chancellor Rachel Reeves ahead of her November Budget, warning smaller firms cannot shoulder the burden of further tax rises
Chancellor Rachel Reeves may target Inheritance Tax to plug gaps in upcoming Budget - The Mirror
The Chancellor is under pressure to raise billions in her November 26 Budget, but with income tax, National Insurance and VAT rises ruled out by Labour's manifesto, insiders say she may instead target families already hit by so-called 'death duties'
'Make or break': Chancellor warned businesses can't take more tax hikes in budget
Rachel Reeves will deliver her second budget on 26 November. She has vowed not to raise taxes on "working people", but some increases are expected as she faces a multibillion-pound black hole in the public finances.
Evening Standard
Chancellor urged not to raise taxes on ‘drained’ businesses in Budget
The British Chambers of Commerce urged a reform of business rates.
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