Business leaders expressing views to simplify taxes
Taking the view into consideration regarding the growing taxes imbibing, a leading corporate house has advised the government to think twice on its brutal pledge to ensure the spending on healthcare and international aid, with the argument that such pledge could only worse the economic situation and the position of the poor.
But according to the British Chambers of Commerce such policies are simply unjustified and stand no argument as the coalition will reduce the budget deficit. In view of the submission of the budget, next week to Chancellor George Osborne, BCC expressed the views of economic think tanks related to the said issue.
According to David Frost, BCC director general the decision to fence the spending on health and overseas aid is just unrealistic and can't be sustained during the economic recovery session as the same may cause further major cuts to some of the vital investments made elsewhere, without any clear justification.
Further joining the league with BCC, the union wants the corporate tax and VAT to go simpler and they shouldn't bear the brunt of any tax rises. In a poll done by KPMG the business leaders expressed their views that if the taxes have to be inclined, then the VAT should also go hand in hand. Further the corporate house, TUC has majorly tried to condemn the VAT rise, and has suggested that it would hit the poor directly rather than the richer sections of the society.