Conservative shadow chancellor urges no tax rises in October Budget

Conservative shadow chancellor Andrew Griffith has urged the government to rule out tax rises for small businesses and the self-employed in the upcoming Autumn Budget, warning that high taxes are driving wealthy individuals and entrepreneurs to leave the UK. Speaking ahead of his first major speech in the role, Griffith said the government should "take off the table the fears of ordinary small businesses" ahead of Chancellor John Healey's Budget on October 28. Griffith argued that Labour's previous two budgets had raised the tax burden to its "all-time recorded high" and that the current economic climate, marked by global difficulties, should not be worsened by further tax hikes. He claimed that "tens of thousands" of wealthy taxpayers are leaving the country, citing the reported departure of hedge fund billionaire Chris Rokos to Greece as an example. "How are you going to replace that?" Griffith asked, noting Rokos reportedly paid £330 million in tax last year.