Chancellor urged to halt tax rises on businesses in budget

RACHEL Reeves must halt any further tax rises on businesses as firms face a “make-or-break moment” at next month's Budget, the British Chambers of Commerce (BCC) has said.

- RACHEL Reeves

After raising taxes by £40bn last year, the Chancellor is widely expected to be preparing further hikes for November's Budget as she battles to stick to her election promises and self-imposed debt targets.

But in a submission to Ms Reeves ahead of the announcement, the BCC urged the Chancellor to steer clear of increasing taxes on companies, arguing business confidence had still not recovered from last year's rises.

BCC director-general Shevaun Haviland said firms felt “drained” and could not plan ahead as they expected “further tax demands to be laid at their feet”.