Reported 26 days ago
UK Treasury chief Rachel Reeves admitted that a recent increase in business taxes could result in lower wage growth than expected. The decision to raise taxes by around £40 billion and increase national insurance contributions aims to address public finance issues, but may lead to employers needing to absorb costs through reduced wage increases. Economic analysts expressed concerns about the sustainability of public spending under the new budget, suggesting further tax hikes might be necessary in the future.
Source: YAHOO