Watch live: Rachel Reeves delivers CBI speech as chancellor insists ‘no alternative’ to tax rises
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Watch live as Rachel Reeves delivers her CBI speech on Monday (25 November) as the chancellor insists there is “no alternative” to tax rises.
Earlier today, the chancellor was accused of catching firms “off guard” and undermining investment and jobs, the head of one of Britain’s leading business groups said.
Rain Newton-Smith, chief executive of the Confederation of British Industry (CBI), said profit is “not a dirty word” because it underpins firms’ ability to invest, but the Government’s actions have hampered that.
The Chancellor is expected to tell the organisation there is “no alternative” to tax rises as she holds firm against criticism of the £25 billion increase in firms’ national insurance contributions (NICs).
Ms Newton-Smith welcomed the new political and economic stability offered by the government after the turbulence of the Conservative years, but condemned the way firms have been blindsided by the increase in NICs and the lowering of the threshold at which they start to be paid.
She warned it will make it more difficult to achieve the economic growth sought by Ms Reeves and Sir Keir Starmer.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments