TaxCorporate TaxTax system ‘distorted’ says new CBI chief

Tax system ‘distorted’ says new CBI chief

Corporate taxation system bad for business

The new director general of business lobbying group, the Confederation of
British Industry, has said that high and unstable corporate taxes are damaging
the prospects for Britain as a place to do business.

Richard Lambert, in his first big speech since becoming head of CBI, said the
tax system was distorting and discouraging economic activity and warned that the
UK was slipping down the league table of international competitiveness.

‘Failure [to support business] will bring an inward-looking, protectionist
state bedevilled by high unemployment and high taxes,’ Lambert said.

‘We need an urgent and high-level debate with the Treasury on this matter,
which has far too long been the Cinderella of our economic policy,’ Lambert
said.

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