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Darling unveils new business-tax forum

29 April 2008
Categories: News , Business , Companies
Group to mull long-term certainty for UK multinationals

The Chancellor has announced a new industry-Government forum on the taxing of British businesses.

The Government will form a new working group, chaired by Financial Secretary Jane Kennedy, to look at the long-term challenges facing the UK tax system and ensure competitiveness remains at the heart of any future reforms, said Alistair Darling.

The group, made up of representatives from industry, will discuss ways in which the country's tax regime can provide the long-term certainty that multinational companies crave in the face of increased competitiveness.

'We need to anticipate a growing problem for all governments: how to protect revenues in an increasingly global market place for goods and services while promoting the competitiveness of our businesses so that they can take advantage of open markets,' the Chancellor remarked.

He added: 'Tax is one element of the strong business environment which makes the UK competitive at a global level.

'I am determined that we do what is necessary to remain one of the world's best places to do business - and critically to ensure that we maintain our strong and resilient economy and our position as the world's leading financial centre.'

The CBI's director-general, Richard Lambert, welcomed the announcement of the new forum, and said: 'Business will be encouraged that the Government wants to provide certainty and consistency for the long-term.

'Although there is little room for manoeuvre on public finances at present, the CBI looks forward to working as part of the new group to identify a clear, internationally competitive corporate tax strategy for the UK.'

Sections - corporation tax

Categories: News , Business , Companies
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