Brown’s ‘tax grab’ weakening UK business

With the Budget speech just over a week away, the Confederation of British
Industry has joined the ICAEW in appealing to the government to address what it
calls ‘constant tax grabs from the Exchequer’.

In its Budget submission the employers’ group said the UK was losing its
competitiveness as it slips down the international tax table.

John Cridland, deputy director-general of the CBI, said: ‘The concern has
mounted amongst British business that constant tax grabs from the Exchequer are
weakening our competitive position. We have seen clear signs that profitability
has peaked.’

In a similar plea, institute chief executive, Eric Anstee, called on the
government to set out its long-term tax policy and expectations in the same way
that it publishes its Comprehensive Spending Review.

‘Accelerating the rate of economic growth must be the priority for this
Budget. One practical step would be to give businesses greater certainty as to
the tax burdens they will face,’ Anstee said.