BusinessCompany NewsDon’t fund war with tax rise, say FDs

Don't fund war with tax rise, say FDs

Should Brown raise taxes on Budget day to fund the UK's involvment in military action in Iraq?

Link: Brown urges stronger US ties

This week’s Accountancy Age/Reed Accountancy Personnel Big Question has shown that finance directors believe strongly that the chancellor should not raise taxes on Budget day in order to fund war with Iraq.

Nearly three-quarters of those asked were against such a move, while only 17% thought that taxes should be used to finance the action.

‘We already have a lot of tax burdens, we do not need any more,’ said Peter Bullagh, FD at Kingspan.

‘Tax increases should be for improvements in health and education. War funding should be sought from the US,’ said another FD.

Others thought the cost likely to be small enough to be handled without bumping up taxes. ‘Hopefully, it can be absorbed into the economy,’ said Paul Tonks, FD at Hill McGlynn.

However, some respondents supported a rise. ‘The country will want to ensure that our military are provided with all that they need in order to liberate the people of Iraq,’ said one.

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