Reeves urged to 'think again' on tax increases

A BUSINESS leader has used a trip to the North East to urge Chancellor Rachel Reeves not to increase taxes on businesses in this month's Budget.

- GRAEME WHITFIELD

> CBI CEO, Rain Newton-Smith

CBI chief executive Rain Newton-Smith met a number of businesses in the region to discuss issues including innovation and how companies can benefit the communities in which they operate. But the Budget due in a fortnight's time was also high on the agenda.

Chancellor Rachel Reeves has been under fire from many firms since last year's Budget increased employers’ National Insurance Contributions at the same time as a significant rise in the National Living Wage. Those measures are thought to have added £24bn in costs on to UK companies.

Ms Reeves has signalled that income tax is likely to go up in this year's Budget as she battles to ensure the public finances are on a better footing after a number of challenging years. That move was broadly welcomed by Ms Newton-Smith, who said companies wanted certainty from the Government after a difficult year.