 
            
            'You can't tax your way to growth' warns JCB chief
                By ELLA MANNING  Updated:  22:05, 22 October 2025   The chief executive of JCB has warned Rachel Reeves that she ‘can’t tax her way to growth’ as the economy flounders ahead of the Budget.In just the latest broadside from corporate Britain, Graeme Macdonald said the last Budget was ‘very bad for business’ and urged the Chancellor not to do anything ‘daft’ next month.He also revealed the Staffordshire-based digger-maker is ramping up investment in the United States to avoid paying tariffs on impo...
            
            
         
         
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
             
            
            