CEOs Criticize ‘Buy Now, Pay Later’ Budget as UK Raises Taxes

Chief executive officers of some of Britain’s biggest companies took aim at Rachel Reeves’budget as the chancellor of the Exchequer sought to shore up the country’s finances with £26 billion ($34 billion) of tax rises.

Bosses from across a range of sectors including hospitality, insurance and banking said the budget failed to lay the groundwork to grow the UK economy. One CEO described it as a “buy now, pay later” budget that should have gone much further.

Before Wednesday’s event, those business leaders told Bloomberg News they might cut investments if costs pile up. Now those tax rises are ...