British businesses prepare for tax hike

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October Budget could 'make 1/3 businesses use exit plans' in major tax change

Summary

Nutrition label

80% Informative

Bosses are 'fast-tracking' their preparations to reduce the impact of a 'painful' rate hike.

Chancellor Rachel Reeves will rise to the dispatch box on October 30 seeking to fill what ministers have called a 22 billion 'black hole' in the books.

Labour has repeatedly promised not to increase the main rates of income tax, national insurance and VAT .

Ministers are looking around for other ways to raise the cash necessary to plug the "black hole".

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Informative language

Neutral language

Article tone

informal

Language

English

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not offensive