You are here: Home - Household Bills - News -

Business leaders hit out at ‘ineffective’ tax reduction attempts

Written by:
The Institute of Directors (IoD) has called on George Osborne to do more to cut taxes, reduce red tape and invest in new infrastructure in order to boost economic growth.
Business leaders hit out at ‘ineffective’ tax reduction attempts

A survey of 1,200 business leaders by the organisation found they have “serious concerns” the recession will continue throughout this year, with only a modest recovery in 2013, the Telegraph reports.

It also found that 54% thought government attempts to reduce taxation had been “ineffective”, with 68% similarly critical over attempts to reduce business regulation.

Meanwhile, 62% felt attempts to simplify employment law had also failed to boost business growth.

The lack of progress by the coalition government meant almost half of the respondents said they had delayed “investment or employment decisions” this year.

Graeme Leach, the chief economist at the IoD, said: “Business is battening down the hatches in the expectation that the recession will continue for the rest of the year.

“The Government’s reform agenda is pointing in broadly the right direction, but the overwhelming opinion of our members is that they are doing too little, too slowly.

“If the Coalition wants to break this cycle of low economic confidence, then they need to take some bold steps that will make a real difference to the cost and complexity of doing business in the UK.”

Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
US authorities turn spotlight on RBS over Iran dealings

US Federal authorities are reportedly investigating RBS over possible dealings with Iran, the latest case of a UK bank coming...