Cut taxes to boost jobs, Osborne told
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by business editor Trevor Sturgess
An influential business group is calling on Chancellor George
Osborne to cut taxes in his March 21 budget to boost jobs and
growth.
The CBI proposes a new capital allowance to attract investment
into types of infrastructure that do not currently quality; new
forms of finance to help companies grow and take on staff; and ways
to ensure environmental taxes encourage growth.
For example, it wants a rise in the controversial air passenger
duty to be pegged at 5% rather than the planned 8%, matching it
with the value of aviation to the economy.
Director-general John Cridland said: "Delivering private sector
investment in infrastructure, supporting mid-sized businesses,
hammering out the details on credit easing, extending the Youth
Contract to 16 and 17-year-olds, and introducing the New Build
Indemnity Scheme for mortgages at the earliest opportunity will all
provide a real boost for UK growth and jobs."
The CBI also urges changes to the tax system to persuade firms
to invest in the UK.
Mr Cridland added: "While the state of the public finances is
tight, the Chancellor still has an opportunity in this budget to
make sure the UK tax system is as internationally competitive as it
can be."
Wednesday, February 22 2012
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