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FPB responds to Cameron's tax proposals

Jul 18 2008

FPB responds to Cameron's tax proposals

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The Forum of Private Businesses (FPB) is responding with cautious optimism to David Cameron's pledge to improve the tax regulations governing small firms.

According to the FPB, the new proposals may help to stave off a prospective 'exodus' which could happen if businesses continue to be hit by 'mounting taxes'.

In 2007, a survey carried out for the body showed that 97 per cent of small firm owners believe the UK has become a more difficult place to do business because of the government's tax system.

Chief executive of the FPB Phil Orford says that cutting the tax burden on businesses should not coincide with taking away certain allowances - for example banning the practice of 'income shifting'.

He adds: 'While Mr Cameron's proposals on business taxation are welcome news, it is important that he makes good on his statements ... as failure to do so will drive even more small firms away from the UK.'

One of the proposals made by the Conservative leader was the introduction of an American-style law which would give companies facing bankruptcy time to think of a way to recover.

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