UK Chancellor John Healey said his upcoming budget will focus on reducing the cost of doing business and supporting "bloody-minded entrepreneurs." Healey acknowledged that businesses are facing similar cost pressures as households, including tax increases and regulatory changes. The budget, due October 28, aims to encourage investment and profit-making in Britain.
Chancellor John Healey's budget plans signal a shift in government focus towards supporting businesses and entrepreneurs, potentially impacting investment, hiring, and overall economic growth in the UK. The budget will reveal whether these pledges translate into concrete measures to ease the burden on companies.
UK Chancellor John Healey has pledged that his upcoming budget will prioritize reducing the cost of doing business and supporting "bloody-minded entrepreneurs." Speaking ahead of his debut Budget on Wednesday, October 28, Healey stated he is conscious of the pressures businesses face, similar to those confronting households, including tax increases and regulatory changes. He aims to encourage investment and profit-making in Britain, noting that cutting business costs is as important as addressing the cost of living. Healey has ruled out raising capital gains tax to avoid dampening business investment and expressed concern over the cost of hiring staff. Public sector borrowing rose to £24.5 billion last month, presenting a fiscal challenge for the government.
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