Budget fails to address needs of the new economy

While there are some good measures for business in general there is also much that will damage the UK’s tax competitiveness.

The combination of globalisation and an e-world makes it more important than ever for the UK to be an attractive place for business. While the headline rates of business taxation look attractive, the underlying rate is higher than that of many of our world competitors. This Budget has made that position worse rather than better.

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