Shadow chancellor to fight NI increase
Michael Howard, the Tory shadow chancellor, this week said he would vote against Gordon Brown's national insurance increase, but refused to say whether a Conservative government would reverse the measure.
Michael Howard, the Tory shadow chancellor, this week said he would vote against Gordon Brown's national insurance increase, but refused to say whether a Conservative government would reverse the measure.
Speaking exclusively to Accountancy Age on Monday, the day before he was due to deliver his own Commons speech on the Budget, Howard said he would vote against the tax rises now but would not comment on future Tory policy.
‘The time for talking about exactly what tax changes we would make is just before the election when you know exactly what the situation is,’ he said. ‘I can’t tell you what we will do in three years’ time but I can tell you what we are going to do next week which is likely to be the earliest time that we have an opportunity of voting against the national insurance contributions.’
There has been a furious reaction among business to the Budget. Digby Jones, director general of the Confederation of British Industry, said there would be ‘deep dismay’ at the measures.
Howard was adamant increased taxation and the burden of regulation for business was now affecting British competitiveness.
‘I think we’ve gone from being the lowest taxed economy in Europe, and lightest regulated, to becoming one of the highest taxed and the most regulated,’ he said.
‘Last year there were 4,692 new regulations, that’s a 50% increase on 1997, and however justified each of these single regulations might be the cumulative consequence is really very damaging.’
A full interview with Michael Howard will appear on the website next week.
The numbers you crunch tell a story. Your expertis...
22yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article