Focus on skills, infrastructure and a simpler tax system that encourages investment and risk taking, Hampshire Chamber urges new Chancellor

Responding to the appointment of John Healey as Chancellor by Prime Minister Andy Burnham, Ross McNally, Chief Executive and Executive Chair of Hampshire Chamber of Commerce, said: “The first priority is a stable, competitive and far simpler tax environment. Businesses understand the need for sound public finances, but they also need confidence that the tax system will encourage investment, not discourage it. Measures that support capital investment, research and development, innovation and productivity must be central to the government’s economic strategy. Simplifying tax code regulation reduces the costs of compliance and gives essential scope to invest and grow. It creates a level playing field for businesses of different sizes and sectors. It enables business advisers to develop strategies, including the capacity for their clients to take risks, with more certainty. In recent years, we have seen precious little understanding within Westminster of how the tax burden impacts businesses. That needs to change right now. We need to build a far more effective partnership between government and business around the issue of tax.

Source link