Darling calls unprecedented meeting with City

Alistair Darling has called an unprecedented meeting with the City’s most
influential lobby group tomorrow, hoping to repair relations frayed by the
latest government tax proposals.

The Chancellor has agreed to appear before the
Association of British
(ABI) at its board meeting – the first time a British chancellor
has been forced to address an ABI board gathering, highlighting the pressure
HM Treasury has
been under from business, The Times reports.

The ABI board, comprising some of the most senior figures in British fund
management and the insurance industry, is eager to talk to Darling about the tax
rights of British-based companies.

Stephen Haddrill, ABI director-general, told The Times the
association would be asking Treasury to ensure UK companies were not taxed on
their overseas profits. ‘We want to talk about how people can bring their
genuine offshore earnings back into the UK without being taxed again,’ he said.

Further reading:

The Times story

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