UK Business Groups Call for Tax Cuts to Boost Growth, Government Considers Tax Cuts to Win Back Voters

UK business groups call on Chancellor Hunt to cut business taxes and implement measures to boost growth. The next UK government is expected to raise taxes to a new postwar high due to a £142 billion spending headache. Labour is warned against relying on inaccurate data from the Office for Budgetary Responsibility. The UK government is considering major tax cuts to win back lost Tory voters. Moody's raises the UK's credit outlook to stable, providing relief to Prime Minister Sunak after defeats in special elections.