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Trump's proposed 30% tariffs spark criticism from the EU and Mexico, with concerns over impacts on UK steel towns, citing fentanyl and trade deficits as justification.

UK businesses plead for no more tax rises; Shell says it has ‘no intention’ of bidding for BP – business live

The GuardianThursday, June 26, 2025 at 7:42:29 AM
NegativeFinancial Marketseconomy
UK businesses plead for no more tax rises; Shell says it has ‘no intention’ of bidding for BP – business live
UK businesses are pushing back against further tax hikes, with Shell notably denying rumors of a bid for BP. Meanwhile, a new report from the Resolution Foundation paints a grim picture for living standards, predicting that disposable incomes will barely grow—just 1% over the next few years, amounting to a measly £300 increase for the average household. The report blames a mix of pandemic fallout and the ongoing cost-of-living crisis for the stagnation.
Editor’s Note: This isn’t just another grumble about taxes—it’s a sign of how squeezed both businesses and households are feeling. With incomes barely budging and companies wary of more financial pressure, the UK’s economic recovery looks shaky. For everyday people, it means tighter budgets and fewer breathing spaces, which could ripple through spending, savings, and even political sentiment down the line.
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