Reeves' Budget Claims Questioned: Small Businesses Face Tax Hikes
Update: 2025-12-01
Description
Chancellor Rachel Reeves Budget Claims Under Scrutiny: Small Businesses Face Tax IncreasesThe podcast delves into the controversy surrounding Chancellor Rachel Reeves recent budget claims, which stated that new changes would bring business rates to their lowest levels since 1991 for over 750,000 retail, hospitality, and leisure properties. However, many small businesses found their bills were actually set to increase, with only one of the new tax rates genuinely lower than in 1991. The business community has reacted strongly, with many high street businesses facing higher tax rates, some even the highest ever. The details reveal a complex situation, with a new lower multiplier for some of the smallest businesses, but other tax brackets actually higher than in 1991. Meanwhile, Harbour Energy cuts another 100 jobs in the North Sea due to lower commodity prices and an uncompetitive tax regime.
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