Liberal Democrats in Business

News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum

CBI Business Tax Report: Business Tax Burden Must Not Retard Growth and Jobs

1.00.00am BST (GMT +0100) Fri 10th Oct 2003

Responding to the CBI Report published on Monday that suggests there will have been a £54bn increase of taxes on business between 1997 and 2005/6, Vincent Cable MP, Liberal Democrat Shadow DTI Secretary, said: "Business must make its tax contribution just like other parts of society, but the burden must not be so onerous that it retards growth and new jobs. Business taxation must be clear, simple and fair."

"There are real problems for British business arising from Gordon Brown's extreme tax complications."

"Taxing freely with one hand and handing out tax breaks with the other just adds to the day to day burden of companies. For small companies, Brown's tax complications are a major competitive disadvantage."

"We need simplicity and stability in our business tax system, not Brown's incessant tinkering."

ENDS

For details of the CBI Report Please contact CBI press office on 020 7395 8239 or out of office hours page 076 2680 9070.

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[Previous news story]: Fat Cat Mentality Persists, Shareholders Must Get Off Their Backsides (Fri 10th Oct 2003).
[Next news story]: Liberal Democrat Shadow Cabinet Reshuffle (Tue 14th Oct 2003).

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