News Formal

UK Treasury chief admits business tax rise could lead to lower than anticipated wages

  • 📰 AP
  • ⏱ Reading Time:
  • 21 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 47%
  • Publisher: 51%

United Kingdom News

Government Programs,Taxes,Compensation And Benefits

U.K. Treasury chief Rachel Reeves has conceded that wages may rise by less than previously thought as a direct result of her budget decision to increase a tax that businesses pay for their employees.

Locked in Mideast wars and battered by sanctions, Iran is wary over US presidential electionOpponents use parental rights and anti-trans messages to fight abortion ballot measuresThe Afternoon WireElon Musk's $1M-a-day voter sweepstakes for Trump goes before a Philadelphia judgePing! Harris and Trump are blowing up your phones with political texts in campaign's last daysLos Angeles sees bus burned, store thefts and rowdy crowds after Dodgers win World SeriesHeidi Klum's Halloween...

“I recognize there will be consequences,” Reeves told the BBC. “It will mean that businesses will have to absorb some of this through profit and it is likely to mean that wage increases might be slightly less than they otherwise would have been.

The IFS said the government will potentially need to raise up to another 9 billion pounds the year after next to avoid cutting spending in some departments.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK Treasury chief admits business tax rise could lead to lower than anticipated wagesU.K. Treasury chief Rachel Reeves has conceded that wages may rise by less than previously thought as a direct result of her budget decision to increase a tax that businesses pay for their employees.
Source: wjxt4 - 🏆 246. / 63 Read more »