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Future of British Business

British Business Relishes Prospect of Post-Sunak Tax Relief

  • Nadhim Zahawi became chancellor Tuesday after Sunak resigned
  • UK business groups have welcomed Zahawi’s tax-cutting comments
Nadhim Zahawi

Nadhim Zahawi

Photographer: Chris J. Ratcliffe/Bloomberg

UK business groups welcomed a commitment by new Chancellor of the Exchequer Nadhim Zahawi to cut taxes after Rishi Sunak resigned from the post in protest over Prime Minister Boris Johnson’s leadership.

Zahawi signaled after taking the job Tuesday that he’s open to reversing a planned increase in levies on business as part of a broader effort to rein in or reduce taxes. While Sunak was seen as an advocate of fiscal probity, the government is seeking ways to ease the growing inflation crisis.