{"id":950,"date":"2026-06-04T07:37:50","date_gmt":"2026-06-04T07:37:50","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=950"},"modified":"2026-06-04T07:37:50","modified_gmt":"2026-06-04T07:37:50","slug":"uk-employers-ask-government-to-ease-off-on-tax-and-price-gouging-claims","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=950","title":{"rendered":"UK employers ask government to ease off on tax and price-gouging claims"},"content":{"rendered":"
\n
LONDON, June 4 (Reuters) – The Confederation of British Industry called on Britain’s government not to treat business as a cash cow or accuse \u200bcompanies of price-gouging as the country expects to struggle with a cost-of-living \u200cshock triggered by the Iran war.<\/div>\n
The employer organisation said 31% of British tax revenues last year came from business, the highest proportion since comparable records began in 1998.<\/div>\n
“Business \u200bis not a cash tap that can be turned on without \u200bconsequence … You cannot tax your way to growth, and we \u2060must not try,” CBI Chief Executive Rain Newton-Smith said in remarks \u200bahead of the body’s annual dinner in London.<\/div>\n
Britain’s Labour government sought business support \u200bahead of its sweeping July 2024 election victory, but the relationship soured after finance minister Rachel Reeves sharply increased employers’ social security contributions in her first budget.<\/div>\n
The CBI \u200bsaid that cost \u00a327 billion ($36 billion) last year, equivalent to the cost \u200bof employing 1.3 million young people on the minimum wage at a time when the \u200cgovernment \u2060is worried about rising youth unemployment.<\/div>\n
More recently, Reeves said she was ready to give regulators extra powers to tackle price-gouging, following concerns that heating oil companies unfairly jacked up prices at the start of the Iran war.<\/div>\n
The CBI said \u200bit was wrong \u200bto suggest to \u2060the public that businesses were taking advantage of the situation.<\/div>\n
“The narrative of profiteering and price-gouging is not just \u200bwide of the mark, it’s deeply damaging,” Newton-Smith said, \u200badding that \u2060many firms were “paddling furiously” to stay afloat.<\/div>\n
With Prime Minister Keir Starmer’s grip on the Labour Party looking weak, the CBI also expressed dismay at the prospect \u2060of a \u200bleadership challenge.<\/div>\n
“Business cannot afford a summer of \u200bstagnation while the politics play out. There is a real, material cost to what’s happening \u200bin Westminster now,” Newton-Smith said.<\/div>\n
($1 = 0.7444 pounds)<\/div>\n<\/div>\n

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The Confederation of British Industry called on Britain’s government not to treat business as a cash cow or accuse \u200bcompanies of price-gouging as the country expects to struggle with a cost-of-living \u200cshock triggered by the Iran war.<\/p>\n","protected":false},"author":1,"featured_media":949,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[88,87],"class_list":["post-950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-tax","tag-transactional"],"yoast_head":"\nUK employers ask government to ease off on tax and price-gouging claims - Reliable Moving Crews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reliablemovingcrews.com\/?p=950\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK employers ask government to ease off on tax and price-gouging claims - 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