TaxCorporate Tax‘Another’ Darling u-turn

'Another' Darling u-turn

Osborne claims chancellor reaches 'seventh' u-turn

Tory shadow chancellor George Osborne has claimed Alistair Darling is on the

brink of his ‘seventh major u-turn’ since becoming chancellor with a
climb-down over the taxation of foreign profits.

He said: ‘Another day, another u-turn from Alistair Darling!’
Osborne said he welcomed indications the chancellor has ‘ditched this
disastrous policy’ but complained even proposing a tax on foreign profits
had been ‘deeply damaging to UK business’.

He said the switch followed changes on the 10p tax rate, capital gains tax

and fuel duty and forecast : ‘It cannot be long before the chancellor is
forced to u-turn on his plans to increase road tax for millions of
families.’

He complained that instead of strong leadership there was an absence of
direction and ‘a failing government driven by events’.

Osborne’s attack followed reports Darling was about to scrap the proposal

because of a threatened exodus of companies from the UK. It originated as
part of a crackdown on avoidance.

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