The chairman of
(PwC) in the UK has warned the government’s tax policy is causing major concern
among its clients relating to the continued uncertainty over business rules.
‘In terms of the wider outlook, we share our clients’ concerns over the risks
to the continued competitiveness of the UK economy,’ Ian Powell, PwC UK
‘The quantity and scope of regulation combined with the level of uncertainty
and complexity in this country’s tax system are particular causes of concern,
and remain at the top of the agenda for leading UK-based businesses.’
Powell noted the decline in business and consumer confidence had affected
transactional activity and lowered the growth expectations for many UK and
international businesses, according to Tax-News.com.