CBI chief declares tax system 'punitive'
Sir Roger Carr says higher rates of tax are deterring entrepreneurs
Sir Roger Carr says higher rates of tax are deterring entrepreneurs
BRITAIN’S tax system is “punitive” and deterring entrepreneurs, according to the president of the CBI.
Sir Roger Carr (pictured) made his remarks during a speech in Glasgow last night. He said: “High personal taxes may seem like good politics, but they’re bad for business. They should come down – and not just be replaced by a damaging property tax.
“The UK needs motivated entrepreneurs and it’s a fantasy to think that highly mobile, talented people will forever tolerate some of the most punitive tax rates in the developed world.”
The comments come amid fresh debate over the 50% rate of income tax for those earning more than £150,0000 and the Liberal Democrats’ mansion tax proposals. The 50% rate, which is now under review, was intended to be a temporary measure by the then Labour government. The Treasury is waiting to hear what sum of revenue is actually raised before deciding whether to continue with it.
More about:
The numbers you crunch tell a story. Your expertis...
13yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleBusinesses are willing to see their tax bills rise in support of a less complex tax system, according to research from the firm BDO Read More...
View articleFurther corporation tax cuts and reliefs for cutting-edge tech businesses have been pledged by prime minister Theresa May, ahead of Wednesday’s Autumn...
View articleActivist and lobby group trade blows over tax stance Read More...
View articleScotland should gain power to set income tax among raft of recommendations by Smith Commission Read More...
View articleLabour in attempt to gain business's support ahead of election with tax reliefs Read More...
View articleGrant Thornton's Jonathan Riley claims Lord Saatchi suggestions to cut key taxes for SMEs will need offsetting, as its own report slams UK tax system ...
View articleTax freezes in the upcoming Budget will aid UK companies' competitiveness, claims the CBI Read More...
View articleOverall tax contribution from large companies rises despite fall in profits, survey by influential group of FDs finds Read More...
View article