UK Business Seeks to Swerve More Tax as Reeves Prepares Budget

UK business chiefs urged Chancellor of the Exchequer Rachel Reeves to ease energy costs and avoid raising the tax burden on corporate Britain as she prepares this year’s budget.

After raising taxes by £40 billion ($53 billion) in last year’s budget — a hit largely focused on businesses — Reeves is grappling with a swelling fiscal gap as she prepares to deliver her second set-piece on Nov. 26. The run-up has been dominated by speculation about how she’ll fill a shortfall expected to be between £20 billion and £30 billion.

Shevaun Haviland

Photographer: Chris J. Ratcliffe/Bloomberg

“Right now, many firms feel drained,” said British Chamber ...