22/02/2012
Fresh Call For Business Tax Cuts
Liam Fox, the former defence secretary, has called for George Osborne to make business tax cuts and deregulate the labour market as part of next months budget.
In his first significant public move since last years forced resignation of his cabinet seat Fox has used an article in the Financial Times to claim cutting business taxes should take precedent over Liberal Democrat plans to speed up removing low-paid workers from tax altogether. His calls have been echoed by the Confederation for British Industry who has called for a £500 million boost to stimulate business growth through changes to the current tax system.
In contrast another former cabinet minister, Liberal Democrat David Laws, has said Osborne needs to pay heed to the “overwhelming case” proposed by the Lib Dems to accelerate a manifesto pledge of raising personal allowance, which would be funded by raising taxes for top earners.
These moves by backbenchers come as George Osborne begins to draw up a new budget plan, which is due to be delivered on March 21.
(H)
In his first significant public move since last years forced resignation of his cabinet seat Fox has used an article in the Financial Times to claim cutting business taxes should take precedent over Liberal Democrat plans to speed up removing low-paid workers from tax altogether. His calls have been echoed by the Confederation for British Industry who has called for a £500 million boost to stimulate business growth through changes to the current tax system.
In contrast another former cabinet minister, Liberal Democrat David Laws, has said Osborne needs to pay heed to the “overwhelming case” proposed by the Lib Dems to accelerate a manifesto pledge of raising personal allowance, which would be funded by raising taxes for top earners.
These moves by backbenchers come as George Osborne begins to draw up a new budget plan, which is due to be delivered on March 21.
(H)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.