Budget 2008
‘Businesses are the soft target for taxes’
HUGH MORGAN-WILLIAMS is
a leading policy advisor and businessman
in the North-East, and
is chairman of broadcast equipment
manufacturer The Canford
Group, based on Wearside.
He called on Alistair Darling to
give businesses a tax break, and
said: "Businesses, particularly
small businesses, have been hit
in the last Budget, and in the pre-
Budget report, and have had so
many shocks that they are pretty
punch-drunk.
"Over the last 12 months, there
have been increases in Corporation
Tax, which affects 98 per
cent of businesses, and Capital
Gains Tax, as well as various
other issues to contend with, all
of which are making life extremely
difficult.
"Businesses have really been
hit over the head, but businesses
do not have any votes, so we are
the obvious soft targets.
"The UK is becoming a hightax
economy, which can result in
us becoming uncompetitive.
While they are trying to extract
golden eggs from the goose, they
need to understand that the
goose can stop laying eggs and
fly away.
"There needs to be a better
form of risk and reward. At the
moment, the risk is too great."
10:17am Wednesday 12th March 2008
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