British companies are confused by mixed messages about tax from the government, business group CBI has said.
The business lobby group says the government’s pro-enterprise drive, including cutting the corporation tax rate from 28% to 20% by 2015, is being muddied by its rhetoric on what companies pay.
“Many UK CEOs of global businesses have had telephone calls from their global CEOs somewhere else on the planet saying, 'We are just a bit confused,’” John Cridland, director-general of the CBI told The Telegraph.
“On the one hand we see this drive to make the UK the most tax-competitive capital in the G20. On the other hand...