The government's decision to raise small business corporation tax will be damaging to the UK's enterprise culture, the director-general of the British Chambers of Commerce has warned. Dan Martin reports.
Speaking at his organisation's annual conference on Monday, David Frost said the 2p increase in taxation paid by small businesses with profits of between 50,000 and 300,000 sends the wrong message to UK entrepreneurs.
Frost agreed that the government was "absolutely right" to reduce the headline rate of corporation tax but said the "good work was undone with the increase in the small firms rate".
During his keynote address at the event in central London, Frost also complained about the imbalance between the number of businesses established in different parts of the country. In the Tham...