The UK is "at serious risk" of recession, the British Chambers of Commerce (BCC) has warned. Services companies, which account for three quarters of the economy, saw "alarming" declines in the second quarter of 2008. "The temptation for the Government will be to raise business taxes because the exchequer is running out of money. This would be a catastrophe" - David Frost Firms that reported lower orders outnumbered those recording rises for the first time since 1990, a survey of almost 5,000 businesses found. The BCC warned the Government against hitting firms with more taxes in an effort to boost public revenues as the economic gloom grows. Director-general David Frost said: "The temptation for the Government will be to raise business taxes because the exchequer is running out of money. This would be a catastrophe. "To put...
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