IoD pushes for lower tax burden
The Institute of Directors has urged the government to lower the tax burden.
In a call from its chief economist, the IoD claims that ‘tax and spend’ policies are damaging the UK economy.
‘Extra public spending is unlikely to increase long-term growth, but extra taxation is likely to reduce it,’ said Graeme Leach.
The IoD’s call comes at a time when there is speculation that the Chancellor will have to raise taxes to meet an increasing public sector debt.
Many city experts believe the Chancellor will have to borrow to repay the debt, something the government has always ruled out doing.