Business calls on major parties to rule out tax hikes after the election

British Chambers of Commerce (BCC) President Bill Midgley has called on the political parties to make a firm commitment ruling out any future business tax rises in the next Parliament.

Following continued speculation, businesses are fearful of damaging tax rises after the General Election according to a new BCC survey.

Of 550 business leaders who took part in the BCC General Election Survey, a massive 90 per cent said they were worried future tax increases will have a damaging impact on their firms.

Responding to speeches from Chancellor Gordon Brown and Michael Howard, Leader of the Opposition at the British Chambers of Commerce (BCC) Annual Conference earlier this week, Bill Midgley, President of the BCC said;

"While employers do not dispute and value the undoubted benefits of long term stability, they will be disappointed that the Chancellor skirted around a firm commitment that a future Labour Government would not increase business taxes. The Chancellor missed a golden opportunity to reassure the business community that it will not face big tax increases after the election."

“Michael Howard’s commitment not to raise business taxes in the first year of a Conservative Government is welcome but businesses are looking for long term stability of the tax regime.”

Commenting on the commitment by both the Chancellor and Michael Howard to reduce the burden of red tape on business and address skills shortages, Mr Midgley said;

“The promises by both parties to cut the burden of red tape and improve the skills of our workforce demonstrate that they are listening to our concerns. However, many promises in these areas have been made in the past. Employers will be looking for the next Government to deliver."