BusinessCompany NewsKPMG: Less than 50% of businesses happy with Budget

KPMG: Less than 50% of businesses happy with Budget

KPMG survey finds dissatisfaction with Budget measures

Only 47% of both listed and private businesses think the UK is a better place
to do business as result of Budget measures announced last week.

This was the chief finding of a survey of 74 respondents representing a range
of
FTSE350
and equivalent private companies by YouGov
on behalf of KPMG.

Out of the surveyed group, nearly 60% believe the 2p cut in corporation tax
is too little, while just over a quarter (28%) believe the Budget is too
complicated to work out the total impact of tax measures on their effective tax
rate.

Sue
Bonney
, head of tax and people services at KPMG Europe, said: ‘This survey
clearly shows that, although some of the tax measures announced on Wednesday
were a step in the right direction, they don’t go far enough to restore our
competitive edge in the global economy – other countries are simply doing more.’

Further reading:

Budget ‘will threaten Heathrow development’

No Budget tax cut for oil and gas companies

The legacy Budget

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