TaxCorporate TaxTories vow to block SME tax hike

Tories vow to block SME tax hike

Shadow chancellor says Conservatives will oppose the hike in small business tax from 19% to 22%

George Osborne, the shadow chancellor, has promised small business that the
Conservatives would oppose the the tax hike for small businesses.

Osborne said he understood the anger of SMEs, who were incensed by the tax
rate increase from 19% to 22% in last week’s Budget delivered by Gordon Brown.

‘I think we should have a lower and simpler tax system for small firms,’
Osborne told the
Sunday Times
.

Overall, the Budget received a mixed reception from business according to a
survey of 70 chief executives by
PricewaterhouseCoopers
.

Of the the respondents, only 9% thought Gordon Brown’s stewardship of the
economy had been poor, while four-fifths said the economy was in good shape.
Most, 71%, felt that they were paying more tax as a result of recent Budgets.

A separate poll conducted by YouGov for KPMG showed
that 47% of business leaders made Britain a better place to do business.

Further reading:

Tory right push Cameron for tax cuts

Advisers pensive over Forsyth Commission

The Budget aftermath: life after Gordon

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