World Business Report Can the UK Budget balance the books?
Nov 25, 2025
Fiona Sincotta, a Senior Markets Analyst at Citi Index, discusses the anticipated tax increases in the UK's upcoming budget and their potential impact on the economy. Maurice Aboudi, co-founder of K10 Restaurants, shares insights on the hospitality sector's struggles with rising costs and the need for growth-friendly policies. Gaia Delany, a business reporter, highlights a looming crisis in Serbia's fuel supply due to sanctions affecting the country's main refinery, revealing the risks of shortages and price hikes.
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Fiscal Corner: Taxes Versus Growth
- The UK faces a squeeze of high spending and weak growth forcing likely tax rises to fill a ~£30bn hole.
- Rising gilt yields would raise government and household borrowing costs, worsening growth prospects.
Hospitality Hit: Growth Put On Hold
- Maurice Aboudi described how last budget changes raised K10 Restaurants' costs by about £150,000 and stopped expansion.
- They avoided redundancies but froze hiring, installed kiosks and focused on efficiency to survive.
Prioritise Pro-Growth Budget Choices
- Encourage pro-growth measures that spur small-scale investment to create jobs and tax revenue.
- Support measures should lower barriers so firms can expand rather than just pay higher taxes.