TaxPersonal TaxInstitute of Directors tells Brown not to risk public finances in March Budget

Institute of Directors tells Brown not to risk public finances in March Budget

The Institute of Directors has urged chancellor Gordon Brown not to take any chances with the public finances in his March Budget, but to concentrate on improving the climate for business.

Public spending and taxation must be kept under tight control, the IoD said, because the existing fiscal rules do not prevent higher public expenditure if it is financed by higher taxation.

The institute also called on the chancellor to adopt a new third rule for fiscal policy ð a commitment to reduce the tax burden as a proportion of GDP. It also demanded a firm stand against European tax harmonisation and a reduction on the complexity and bureaucratic burden of the tax system.

Ruth Lea, head of the institute’s policy unit, said: ‘Economic stability is not guaranteed to last. The government must not risk any more increases in spending. The best safeguard against future difficulties is a low-regulation environment to encourage a strong private sector.’

Institute of Directors

HM Treasury

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

2d Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

5m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

5m Alia Shoaib, Reporter