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March trade news 2008
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4th March 2008


CBI calls on Darling to cut tax on retailers

The Confederation of British Industry (CBI) has called on chancellor Darling to help small business and independent retailers in the next Budget report.

As part of an 'alternative Budget report' the CBI listed a range of suitable changes for the chancellor to implement as part of the actual report, set to be presented to parliament on March 12th.

A key change, which would be of great benefit to independent retailers, would be to hold small firms' corporation tax at 20 per cent in favour of the current plans to increase it to 22 per cent.

Richard Lambert, the director-general of the CBI, said: "Firms have had enough unexpected change to the corporation tax system.

"Consumers meanwhile are already struggling with significant reductions in their disposable incomes, so further constraints would only make matters worse."

The CBI also urged the government to keep its measures down to a minimum to ensure that industry was not unnecessarily stifled.

 

(c) 2008 Adfero Ltd.

 

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