Nascent economic recovery could be ‘choked off in its prime’ thanks to the UK’s burdensome tax regime, according to a recent poll of SMEs.
A survey of 350 small and medium sized businesses conducted by top 25 accountancy firm MacIntyre Hudson found that 72% believe the UK regime has become less competitive than other major economies in recent years. More than 82% believe tax rises now pose a greater threat to economic recovery than cuts in public spending. In spite of their concern, 97% believe the escalation of government debt will inevitably lead to further tax rises for many years to come.
“The message from business is clear. What was once a celebrated, competitive tax and regulatory regime has become increasingly burdensome, particularly for ambitious ind...
About Gina Dyer
I've been a journalist for four years, writing on a wide variety of topics from business and finance to travel, culture and celebrities. I began my career as an editorial assistant for Palladian Publications, a B2B publisher specialising in technical magazines for professionals in primary industries. I later moved into consumer magazines as a staff writer for French Magazine, a monthly travel publication aimed at Francophiles, and was part of the launch team for The Traveller in France, a quarterly magazine produced for the French tourist board. I was also a regular contributor to online travel portal Homesworldwide.co.uk, and later worked with customer publishers Future Plus as a freelance production editor, before joining Sift Media in January 2009. I am currently Deputy Editor of AccountingWEB.co.uk.