Corporation tax should be cut

Corporation tax should be cut

British Chamber of Commerce calls on Chancellor to make changes to ensure UK's economic health as Pre-Budget report looms

A powerful business group has called for the tax burden on companies to be
relaxed.

The British Chamber
of Commerce (BCC)
 called for the main rate of company tax to be reduced to
25 % to ‘allow the UK to remain competitive on a global scale’, it said in a
submission which will be put forward to Chancellor Gordon Brown before he makes
his pre-Budget report.

The body, which represents thousands of business spanning the economy has
called for the levy to be reduced from its current 30% rate in order to match
the EU’s average requirement of
25% tax.

David Frost, BCC’s director general, said it was ‘crucial that the government
does not take our position for granted,’
The Times reported.

‘There is a growing consensus that corporation tax needs to be cut.’

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