27 November 2006 For immediate release
STUC slams CBI call for reduction in business taxation
Speaking as the CBI Conference opened with a call to reduce business taxation by £8bn over the next 5 years, Grahame Smith, STUC Deputy General Secretary said:
“The CBI’s call for a reduction in business taxation is based on the false premise that UK businesses are over-taxed. In reality, the evidence clearly demonstrates that the total tax ‘burden’ on UK businesses is considerably less than most of our competitors. Importantly, the evidence also shows that the time taken by businesses to comply with taxation requirements is also less in the UK.
“The CBI must also find the bravery to clearly spell out what services should be cut to pay for this reduction in business taxation.
“It is high time that the CBI concentrated its efforts on encouraging its members to take advantage of unprecedented economic stability and a 40 year high in business profitability to invest in people, plant and research. Consistent moaning about fictitious problems gets us nowhere”.
ENDS
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Stephen Boyd 0141 337 8100 or 07976 978 355