Category Archives: Government Policy

Tax – The Weighty Burden

How much tax do businesses really pay? Action by protest organisation UK Uncut has certainly brought the issue to the public’s attention, but their ideas show just how much confusion and misinformation surrounds the subject. All of the focus tends to be on corporation tax, which the Government intends to cut from 26 to 23 per cent by 2014, but this is only one of the many taxes which affect companies. In an effort to present the true extent of the burden, the IoD last year began an annual review of the area. Today we have produced the second instalment, … Read More »

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Budget 2011 – IoD reaction

From our perspective this was a decent Budget for business. We’d set out our ‘wish list’ – see the blog post I wrote yesterday called ‘What budget should Osborne deliver on Wednesday’ – and George Osborne did a lot to meet our expectations on Corporation Tax. We very much welcome his proposal to accelerate the reduction in Corporation Tax to 26 per cent. There is more work to be done on, but this measure begins to kill the growing perception that the UK is a high tax country.

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What Budget Should Osborne Deliver On Wednesday?

The Government’s coffers are pretty bare certainly, and this seems to be encouraging many people to assume there’s not much he can do in the Budget to kick-start economic activity and strengthen the recovery. With little money he can’t spend much. With little money, his scope for immediate tax cuts is limited. However, the Chancellor still has some good options.

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The best things in life are free

This morning the IoD published it’s ‘freebie’ growth plan. We continue to support the Treasury’s plans to tackle the deficit, but the Government should also be looking at measures it can take to promote growth. We have come up with some practical steps which would boost the economy and cost next to nothing. Some of the main policy suggestions include:

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Don’t go wobbly George

The student protests which have been taking place across the country in the last few weeks are only the beginning of what may well be a long, cold winter of discontent. George Osborne will need to show a lot of backbone if he is to stick to the course set out in the Spending Review. But no amount of opposition from the public sector unions, or pressure from within Parliament, should make him back down on the vital project of deficit reduction, as IoD Chief Economist, Graeme Leach, explains in a new report.

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All governments say they are pro-enterprise, but the proof of the pudding is in the eating

It has become very fashionable recently for politicians to say they are standing up for small businesses. Ed Miliband claimed in his speech to his party conference that he would ‘make Labour the party of enterprise and also the party of small business.’ David Cameron said at the beginning of November that he wanted to help more people set up their own companies, and was appointing Lord Young as his ‘enterprise Tsar.’ At the IoD we are obviously pleased with the sentiment, but there is a huge gulf between political gestures and real action which benefits entrepreneurs and small business … Read More »

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