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08/04/2002
CBI call for cut in British firms' tax burden
The Confederation of British Industry has called on Chancellor Gordon Brown to cut British firms' tax burden by £2 billion in his forthcoming budget.
The business lobby said the cuts were needed to help British businesses compete with counterparts in lower-tax economies.
The CBI revealed that British firms currently pay the equivalent of 13.2 per cent of gross domestic product in tax, compared to just 9.5 per cent in the US and 12.7 per cent in Germany.
The proposed cut would also help to reverse a £29 billion increase in the business tax burden since the New Labour government came into power in 1997.
The CBI has also called for targeted tax breaks aimed at encouraging scientific research and staff training.
It is also pushing for a wider range of exemptions to the government's controversial Climate Change Levy, a tax on energy use aimed at curbing environmentally harmful gas emissions.
(MB)
The business lobby said the cuts were needed to help British businesses compete with counterparts in lower-tax economies.
The CBI revealed that British firms currently pay the equivalent of 13.2 per cent of gross domestic product in tax, compared to just 9.5 per cent in the US and 12.7 per cent in Germany.
The proposed cut would also help to reverse a £29 billion increase in the business tax burden since the New Labour government came into power in 1997.
The CBI has also called for targeted tax breaks aimed at encouraging scientific research and staff training.
It is also pushing for a wider range of exemptions to the government's controversial Climate Change Levy, a tax on energy use aimed at curbing environmentally harmful gas emissions.
(MB)
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