CBI mulls Lib Dems tax ideas

The shadow Chancellor for the Lib Dems, Vince Cable, has come out on top of the polls as the best leader that can be trusted to help guide Britain out of the recession.  At the same time however, he also heavily criticized the party’s current policies on bank reform, transport, energy, tax, employment law, reform of the takeover rules, and the minimum wage.

Deputy Director General of the CBI, John Cridland stated that when it comes to rebuilding public finances the Lib Dems do have many useful details on how they could bring credibility back to the UK financial system and that they are committed to reforming the pensions of the public sector.

Despite the positives in the Lib Dem plan, Cridland stated that they also have many flaws in their proposals such as the idea to raise capital gains tax alongside income taxes which he described as a ‘damaging plan’ that would likely not offer any recognition or reward to SMEs and entrepreneurs.

He continued to say that the plan to break up the banks in Britain would not serve any purpose and that allowing the state to issue a public interest veto on foreign takeovers would be a disaster.

Also unimpressed was the Institute of Directors with Miles Templeman the director general of the organization commenting that while there are a few portions of the Lib Dem proposals that would help forward the business agenda, most of these positive ideas would be overruled by proposals that would prevent the growth of business.