CBI chief warns Reeves of Budget's dent to profits and investment

Rain Newton-Smith speech

Chancellor Rachel Reeves will be warned today (25 November) that the tax rises introduced in the Autumn Budget “must never again be simply done to business”.

At Confederation of British Industry's (CBI) annual conference today, the chief executive Rain Newton-Smith is set to heed risks the Autumn Budget poses to hitting profits and investment, arguing that more must be done to pursue the chancellor's growth ambitions.  In a speech at the conference, Newton-Smith will say "margins are being squeezed and profits are being hit" and when you "hit profits, you hit competitiveness, you hit investment, you hit growth".  This will be the CEO's first major speech since Reeves announced her fiscal plans for the country on 30 October. Newton-Smith...