Story perspectives

CBI Chief Urges Labour to Rethink Tax Pledge

9/10/2025

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Summary

Story summary

CBI chief Rain Newton-Smith urges Chancellor Rachel Reeves to rethink Labour's tax pledge ahead of the November budget.
He argues that past commitments are outdated due to changing global markets.
The CBI advocates for strategic tax reforms, including adjustments to business rates and VAT thresholds.
Concerns exist over the employment rights bill potentially limiting hiring and economic growth.
Businesses are facing increased tax burdens, contributing 30% of total taxes in 2023-24.

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Story summary

CBI chief Rain Newton-Smith urges Chancellor Rachel Reeves to rethink Labour's tax pledge ahead of the November budget.
He argues that past commitments are outdated due to changing global markets.
The CBI advocates for strategic tax reforms, including adjustments to business rates and VAT thresholds.
Concerns exist over the employment rights bill potentially limiting hiring and economic growth.
Businesses are facing increased tax burdens, contributing 30% of total taxes in 2023-24.