The morning after the night before…
Business chides Reeves for not kick-starting growth in the Budget
Bosses accuse chancellor of not delivering on Labour’s pledge to boost output.
Chancellor Rachel Reeves is failing to fulfil her promise to kick-start growth, business leaders have said, after her Budget focused on £26bn of tax rises to fund higher welfare spending and increase her fiscal buffer.
Several chief executives said Reeves had done little to incentivise businesses to grow, other than by not implementing potential measures such as a tax raid on banks. At the same time many companies face a steep increase in costs, including a sharp rise in the minimum wage contained in the Budget on Wednesday, as well as planned new laws to boost workers’ rights, and last April’s rise in employer national insurance contributions.