Government urged to give businesses tax breaks

CBI, the business lobby group, has been urging the government to introduce changes to the tax system to give businesses in the country a boost.

The group have recently submitted a suggestion to the government, ahead of the budget, asking that the government focus on their investment policy goals.

The director-general of the group is John Cridland who has commented, “We want to see an increased development and infrastructure in the private sector and more support to medium-sized enterprises.

We want to see the government sort out the details for credit easing and introduce, as soon as possible, the New Build Indemnity Scheme. We expect that these changes would bring a significant boost UK economy and improve the employment situation in the country.

“In order for the situation to improve economically in the UK the government’s plans must become an immediate reality. It is important that businesses are given an incentive to invest in the UK and we want the government to make changes to taxes to make this more beneficial.”

The group also wants to see a new capital allowance introduced by the Chancellor which will attract new investors into types of infrastructure that they might not currently qualify for.

The chief economic adviser for the CBI is Ian McCafferty who has commented, “If the government follow these proposals that we have put forward then the UK will have one of the most favourable tax regimes in Europe. This will help the economy develop significantly and the government realise its ambitions”.