Should the UK prioritise fixing the tax system or unlocking investment to drive growth?

The UK economy faces a crossroads. Businesses argue the tax system has become too complex and unpredictable — while investors say the real bottleneck is access to long-term capital. Rachel Reeves has pledged to deliver “stability and growth,” but can she do both? Should her first Budget focus on simplifying and reforming the tax system — restoring confidence through clarity and fairness — or should she channel resources into unlocking investment, innovation, and scale-up capital? Where should the balance lie between fiscal discipline and bold economic stimulus?