Treasury bites back at CBI
The Treasury has dismissed claims from the Confederation of British Industry that the business tax burden has increased by £47bn under the Labour government.
The Financial Times reported Paul Boateng, chief secretary to the Treasury, as saying that the statement was ‘wrong and misleading’, adding ‘we make no apologies for investing in public services’.
The CBI’s statements came in its pre-Budget submission where it also said that there should be no increase in environmental taxes.
Gordon Brown is expected to deliver his pre-Budget report in the last week of this month when British business could be further incensed if, as expected, he hints at further corporate tax hikes.