Budget tax hikes for financial sector would be ‘own goal’, says CBI

CBI chief executive Rain Newton-Smith (Yui Mok/PA) - (PA Archive)

Further taxes on the UK’s financial sector would be an “own goal”, the boss of the Confederation of British Industry (CBI) is set to warn ahead of the Budget.

Rain Newton-Smith, chief executive of the major business group, will call on Chancellor John Healey to give “business breathing space” in his first Budget in a speech in London on Wednesday.