Corporate tax plans 'will benefit economic growth'

Chancellor George Osborne's plan to make Britain the country with the lowest corporate tax out of any country in the G20 is a "worthwhile goal" which will help the private sector to bolster the UK's economic growth, according to an expert.

Martin Bamford, chartered financial planner for Informed Choice, stated that it is about time the government placed more emphasis on bringing back confidence to the private sector, which includes companies using sales recruitment.

"Lower corporate taxes should result in greater economic growth, which will benefit shareholders and taxpayers. It is the private sector that will drive the UK fully out of recession and help to grow the economy," he said.

The expert added that, if Mr Osborne's tax decisions are business friendly, then more firms will be attracted to the UK.

CBI deputy director-general John Cridland recently welcomed the Conservatives' plans to reduce the planned increase in employers' national insurance contributions.

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Posted by Wayne Bly and John Oak

Filed: 21-05-2010