Accountants Warn of Tax Rise Consequences
Chancellor Rachel Reeves has been cautioned that further tax increases on businesses in the upcoming Budget could severely impact Britain's jobs market.
Britain faces a damaging cliff edge if the Chancellor decides to raid businesses again at next month’s Budget.
According to ICAEW chief executive Alan Vallance, tax is hindering growth, and the potential for more tax hikes is stifling investment, hiring, and innovation. Vallance addressed hundreds of business leaders at the institute's annual conference in London, emphasizing the fragility of business confidence and the negative effects of complexity, cost, and uncertainty.
- Tax rises could crush Britain's jobs market
- Chancellor Reeves faces a £30 billion fiscal gap
- Business confidence is fragile, and investment is stalling
Author's summary: Tax rises may harm Britain's jobs market.