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CBI Slams Ball and Chain Tax Regime
Date Added: Thu March 13 2008
In its report, 'UK business tax: a compelling case for change', the CBI Tax Task Force highlights an unsustainable corporation tax system.

 

Richard Lambert, the CBI's Director-General, said: "Our traditional tax system is no longer fit for purpose and is making the UK look increasingly uncompetitive. We need bold action to restore a competitive headline rate of corporate tax.

 

"The UK tax system cannot continue as a ball and chain round the ankle of British business, when it should be a springboard for encouraging growth and attracting investment."

 

Charles Alexander, Chairman of the CBI Tax Task Force comments:

"You don't have to be a tax expert to work out that every penny spent on tax leaves less available for investment in jobs, research and development. So an uncompetitive tax system affects everyone.

 

"No-one wants to see the UK lose its edge and it would be tragic if an uncompetitive tax regime was allowed to undermine the other attractive features that make Britain a good place to live, work and do business. The CBI's Tax Task Force has shown that maintaining the status quo is no longer an option."