Natwest chair: Rachel Reeves' Budget must include radical tax reform

Rick Haythornthwaite worked for the UK arm of Petrosaudi for eight years

The chair of banking giant Natwest has called for Rachel Reeves to implement “radical tax reform” in her Autumn Budget.

Rick Haythornthwaite has said a “bold long-term plan” to “kick-start growth” would reassure jittery bond markets and “deliver much-needed social benefits”.

“This is the time for a 10-year programme of radical tax reform. Time for the Chancellor to aim high with a fundamental reset of the UK economic incentive system,” he said.

Reeves is facing a batch of conflicting calls from across the political aisle with Labour rebels demanding a wealth tax whilst businesses call for the Treasury to reduce the burden inflicted upon them.

Haythornthwaite said “simplifying levers that can be pulled to resto