TaxCorporate TaxFDs reject more tax for health

FDs reject more tax for health

Finance directors have said a resounding 'no' to raising business taxes to boost spending on the ailing NHS.

Of the 392 responses to this week’s Accountancy Age/Reed Accountancy Personnel Big Question, 70% said no to tax rises to pay for extra spending on the NHS.

Of those who rejected more tax for health most felt NHS users should bear the cost through their taxes. ‘Otherwise the government would benefit from increased popularity with voters at the expense of businesses who do not get a vote,’ said one FD.

‘The NHS must be restructured to stop cash being wasted. Businesses need to hold onto their cash to secure jobs,’ said another.

One FD noted the NHS is the ‘last command economy institution’ in Western Europe. He added: ‘It needs drastic surgery to its management structure and reform of its operating practices, including private provision, not more money to waste.’

Only 18% of those questioned agreed businesses should pay. Michael Bray finance director of the Institute of Physics Publishing, felt increases in business tax would mean private health scheme costs for companies would decrease over time as the NHS improved. In addition he said: ‘Having a better NHS service should impact positively on business productivity’.

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