BusinessCompany NewsBUDGET IN DEPTH: Tories brand Brown a ‘villain’

BUDGET IN DEPTH: Tories brand Brown a 'villain'

Speaking after the Budget speech, chief secretary John Bercow has called the chancellor a 'villain' for burdening business with taxes and red tape.

Bercow said: ‘We shall look carefully at the details of the measures on business.

‘But by lowering business taxes now, the chancellor is like a villain taking someone’s wallet, extracting the notes, and returning the wallet with some small change still inside.

‘He has burdened business with £6bn a year of extra taxes and £5bn a year of extra red tape – burdens that are impeding companies’ ability to win orders and create jobs.

‘Last year there was a new regulation introduced every 26 minutes of the working day. UK businesses are spending more time filling in forms andless time chasing orders and creating jobs.’

Bercow said that over the last five years Britain had fallen from ninth to 19th on the World Competitiveness Scoreboard.

‘Our productivity growth used to be faster than that of the USA,’ he added.

‘Under Labour, it has been slower. Our share of world exports has fallen and our balance of trade has been in deficit every month for the last four years.’

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