CBI: Business tax increases should be taken off the menu

by Rachael Singh

More from this author

20 May 2010

  • Comments

The head of a CBI has called for a halt to new business taxes, in a speech to an audience including the new chancellor.

The tax burden on businesses must not be increased, said the president of the Confederation of British Industry (CBI), Helen Alexander, at its annual dinner last night.

Alexander said: "More taxes on business shouldn’t even be considered. If we want enterprise, jobs and growth – and we all know that we do – then more tax on business will have the opposite effect, so this approach has to come off the menu.”

She said there were four key points to aid business: a sustainable path back to fiscal health; a tax system that looks for growth and doesn't "hit business" ; the right infrastructure and reform of public services and public sector pensions.

Alexander referred to Osborne during the speech.

"The main thing the economy needs is for the deficit to be sorted. We welcome the creation of an independent office for Budget responsibility, and I know your treasury team is already working flat out on an emergency budget. But I cannot stress enough the importance of being bold.”

She said the relationship between government and business needed to be positive and urged business not to beused as "political football".

"Election-time attacks on wealth creators may go down well with some voters, but they go down really badly with the very entrepreneurs who need to be firing on all cylinders right now,” she said.

Alxeander is also chairman of Accountancy Age owners Incisive Media.

Further reading:

Tory rebels criticise CGT tax moves

Clegg pledges a ‘fairer’ tax system

Raise income tax not VAT, say finance managers

Osborne's corporation tax cuts will cost £4.5bn: Vantis

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send


Financial Planner

The Ministry of Defence Surgeon General’s (SG) Finance Department, Lichfield, Staffordshire, Permanent, Full Time, £ £30,008




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.