TaxCorporate TaxCBI calls for Brown to cut corporation tax

CBI calls for Brown to cut corporation tax

Influential lobby group urges chancellor to rein in spending plans and give corporates further relief

The Confederation of British
Industry
has criticised Gordon Brown’s spending targets for the public
sector, calling for the
chancellor
to take a more measured approach.

Brown’s imminent Comprehensive
Spending Review
has set out a 2% increase in spending growth but the CBI has
called for this to be limited to a 1.6% increase, believing that this would
allow for £8bn-worth of tax cuts.

The CBI recommended that corporates should be afforded the reliefs, and
warned that if the cuts to the spending plans were not made, the tax burden
could rise to crippling levels.  

Ian McCafferty, the CBI’s chief economic adviser said: ‘For the CSR to be
credible it must rigorously prioritise its objectives to make the most of its
limited resources, while boosting the quantity and quality of services through a
radical transformation of the way public services are commissioned and
delivered.’

Further reading:

The ghost of a chancellor’s past 

Brown stands by decision to scrap pension
tax credits

Give private equity a chance says CBI

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