30 Apr 2008
The CBI has backed the government’s decision to set up a working group to look at the competitiveness of the UK’s corporate tax system.
The government’s announcement yesterday follows hard on the heels of the high-profile departure of two UK multi-nationals – Shire Pharmaceuticals and United Business Media - to Ireland for tax residency purposes.
CBI director general, Richard Lambert said: ‘The CBI looks forward to working as part of the new group to identify a clear, internationally competitive corporate tax strategy for the UK.’
The employers’ body released a taskforce report last month revealing failure of the UK tax system to respond to increasingly global business activity which was creating an unsustainable regime.
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Briefings
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