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Business Tax Increases Must End: UK Industry Group

A leading British industry group has urged the government to reward companies that continue investing instead of raising business taxes further. Tony Danker, director-general of the Confederation of British Industry (CBI), said on Monday that UK businesses are willing to pay their fair share to help the country recover from the CCP (Chinese Communist Party) virus pandemic, but are worried that the government would keep turning to business taxes as a politically convenient option. Chancellor of the Exchequer Rishi Sunak announced on March 3 that corporation tax will be raised to 25 percent from 19 percent from 2023. According to the Office for Budget Responsibility (OBR), the tax rises will increase the tax burden to 35 percent of GDP in 2025/26, its highest level since the late 1960s. “After the pandemic, we in business believe that we should pay our fair share to tackle the debts of COVID. That is …

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