UK’s tax-and-spend Budget gives businesses cause for concern
Observers have expressed concern that Reeves has adopted what they say is a ‘shock and awe’ approach
Add BT as a preferred source
[LONDON] British Chancellor of the Exchequer Rachel Reeves delivered her first Budget this week, one that has already impacted the stock market and which business leaders have described as a “gamble”.
Some observers have expressed concern that Reeves – a 45-year-old who became the first female chancellor to deliver a UK Budget – has adopted what they say is a “shock and awe” approach.
They fear the implications of the massive £40 billion (S$68.5 billion) annual tax rise, with the Budget putting tax on a path to 38.2 per cent of the UK’s gross domestic product – the highest level ever.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature
