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U.K. Business Group Joins Calls to Scrap £12 Billion Tax Rise

Tax rise will hit growth, cost jobs and tighten income squeeze
Insitute of Directors says lower borrowing is an opportunity

Rishi Sunak — Rishi SunakPhotographer: Simon Dawson/Bloomberg

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January 28, 2022, 2:58 PM UTCUpdated onJanuary 28, 2022, 3:18 PM UTC

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A leading U.K. business lobby has written to Chancellor of the Exchequer Rishi Sunak asking for him to scrap a 12 billion-pound ($16 billion) payroll tax increase planned for April.