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UK Business tax hike could mean an increase in prices

Like America, the United Kingdom has a division between its north and south territories.  Currently the divide is expanded by a new proposal that could see “businesses in the South paying more, with those in the North paying much less.”

The tax rate which could be in excess of 80% for some businesses could see an increase in prices for goods and services including meat, beer, and broadband.  The hike in prices will cause for a struggle in a competitive market which not only would see customers could elsewhere, but could also have a huge negative effect on shops competing against online businesses.

Some law makers are asking for tax reliefs before the hike can commence but nothing is for certain as of today.  For now, businesses are preparing for the worst, which could mean a loss in employment for alot of British citizens.

http://www.telegraph.co.uk/news/2017/01/02/business-rates-hike-will-put-prices-shops-experts-warn/

 

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