{"id":172293,"date":"2023-03-13T01:02:23","date_gmt":"2023-03-13T01:02:23","guid":{"rendered":"https:\/\/precoinnews.com\/?p=172293"},"modified":"2023-03-13T01:02:23","modified_gmt":"2023-03-13T01:02:23","slug":"british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/","title":{"rendered":"British bosses give verdict on Jeremy Hunt&apos;s corporation tax increase"},"content":{"rendered":"<h2>&#8216;Businesses are on their knees&#8217;: British bosses give their verdict on Jeremy Hunt&#8217;s corporation tax increase<\/h2>\n<ul>\n<li><strong>Bosses say planned tax hike is undesirable amid rising inflation and interest rates<\/strong><\/li>\n<li><strong>A BT report warned Britain will head in a \u2018drastically anti-investment direction\u2019<\/strong><\/li>\n<\/ul>\n<p>Bosses from small start-ups to FTSE 100 giants have been pleading with the Chancellor to give UK business the tax environment it needs to spur investment and growth.<\/p>\n<p>Many say that the planned increase in the corporation tax rate from 19 per cent to 25 per cent next month is the last thing they need as they weather surging inflation and rising interest rates \u2013 and try to help Britain emerge from an economic downturn.<\/p>\n<p>James Dyson, entrepreneur, said: \u2018The Government has done nothing but pile tax upon tax on to British companies&#8230; Is it any wonder that the economy is teetering on recession?\u2019<\/p>\n<p>Archie Norman, chairman, Marks &amp; Spencer, said: \u2018Corporation tax is the banner headline tax and sends a strong signal so it matters, but the total tax climate is what really matters.<\/p>\n<p>\u2018The UK needs a clear, long-term, nailed-on supply side strategy.\u2019<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/03\/13\/00\/68620675-0-image-m-97_1678666152688.jpg\" height=\"591\" width=\"634\"><\/p>\n<p>Bosses from small start-ups to FTSE 100 giants have been pleading with the Chancellor to give UK business the tax environment it needs to spur investment and growth<\/p>\n<p>Pascal Soriot, chief executive, Astrazeneca (which decided to build a \u00a3320million plant in Ireland because of its lower tax rate): \u2018[The UK needs] a lower corporate tax rate and unfortunately it\u2019s going up.\u2019<\/p>\n<p>Lord Bilimoria, founder, Cobra Beer, and deputy president, Confederation of British Industry: \u2018This is not the time to put up taxes.\u00a0<\/p>\n<p>Businesses have suffered so much&#8230; They\u2019ve had three years of pandemic followed by the Ukraine war, the energy crisis, cost of living crisis, inflation and, on top of that, you\u2019re increasing taxes.\u2019<\/p>\n<p>Carolyn McCall, chief executive, ITV: \u2018Any increase in corporation tax is not welcome for business.\u2019<\/p>\n<p>Charles Woodburn, chief executive, BAE Systems: \u2018We\u2019re obviously keen to always make sure that we impress upon Government&#8230; the importance of creating a strong investment environment for a UK business such as ours.\u2019<\/p>\n<p>Panos Kakoullis, chief financial officer, Rolls-Royce: \u2018It\u2019s important for any government to have the right tax policy that encourages investment.\u2019<\/p>\n<p>A report from BT said Britain will head in a \u2018drastically anti-investment direction\u2019 if the tax hike goes ahead.\u00a0<\/p>\n<p>Chief financial officer Simon Lowth said: \u2018The case for intervention at the Budget has never been clearer.\u2019<\/p>\n<p>Tim Martin, chairman and founder, JD Wetherspoon: \u2018You need corporation tax rates that encourage international companies to invest and which give a business-friendly vibe to overseas entrepreneurs&#8230; Maybe we can\u2019t match the Republic of Ireland, but we should aim to be close.\u2019<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/03\/13\/00\/68620691-0-Entrepreneur_James_Dyson_said_that_the_Government_has_done_nothi-m-99_1678666331867.jpg\" height=\"541\" width=\"634\"><\/p>\n<p>Entrepreneur James Dyson said that &#8216;the Government has done nothing but pile tax upon tax on to British companies&#8230;&#8217;<\/p>\n<p>Louise Hellem, director of economic policy, Confederation of British Industry: \u2018We\u2019re concerned about the six-point increase to headline corporation tax coming in April&#8230; there\u2019s currently nothing on offer to offset it.\u2019<\/p>\n<p>Kitty Ussher, chief economist, Institute of Directors: \u2018Our focus for the budget is to use the tax system to sharpen pre-profit investment incentives to raise long-term economic growth in Britain that benefits businesses and those they employ, regardless of their level of profitability.\u2019<\/p>\n<p>Alex Veitch, director of policy at the British Chambers of Commerce: \u2018We do not want to see any further increase in the tax burden for businesses when they are facing a wall of rising costs.\u2019<\/p>\n<p>Barry O\u2019Dwyer, chief executive, Royal London: \u2018All of us have an interest in the UK remaining competitive.\u2019<\/p>\n<p>Mark Boggett, chief executive, Seraphim Space: \u2018The UK needs to be finding ways to keep its homegrown best tech companies at home \u2013 massive hikes on corporation tax take us firmly in the wrong direction.\u2019<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/03\/13\/00\/68620797-0-image-a-100_1678666354398.jpg\" height=\"423\" width=\"634\"><\/p>\n<p>Panos Kakoullis, chief financial officer, Rolls-Royce said that &#8216;it\u2019s important for any government to have the right tax policy that encourages investment&#8217;<\/p>\n<p>Charlie Mullins, founder, Pimlico Plumbers: \u2018Scrapping the massive hike is a huge tool that will help, especially small businesses&#8230; Confidence is low and many are on their knees.\u2019<\/p>\n<p>Dominic Ashley-Timms, chief executive of management coaching firm Notion: \u2018Lower corporation taxes would give businesses the capacity to invest more in technology, research and development, employ more people and invest in their learning.\u2019<\/p>\n<p>Kate Vacovec, chief finance officer, Pizza Hut UK &amp; Europe: \u2018Ensuring a competitive rate of corporation tax&#8230; will allow us to better balance multiple cost pressures.\u2019<\/p>\n<p>Source: <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-11852027\/British-bosses-verdict-Jeremy-Hunts-corporation-tax-increase.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;Businesses are on their knees&#8217;: British bosses<\/p>\n","protected":false},"author":3,"featured_media":172292,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23056],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>British bosses give verdict on Jeremy Hunt&amp;apos;s corporation tax increase - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"British bosses give verdict on Jeremy Hunt&amp;apos;s corporation tax increase - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"&#8216;Businesses are on their knees&#8217;: British bosses\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-13T01:02:23+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/03\/British-bosses-give-verdict-on-Jeremy-Hunts-corporation-tax-increase-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/\",\"url\":\"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/\",\"name\":\"British bosses give verdict on Jeremy Hunt&apos;s corporation tax increase - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2023-03-13T01:02:23+00:00\",\"dateModified\":\"2023-03-13T01:02:23+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"World News\",\"item\":\"https:\/\/precoinnews.com\/category\/world-news\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"British bosses give verdict on Jeremy Hunt&apos;s corporation tax increase\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"British bosses give verdict on Jeremy Hunt&apos;s corporation tax increase - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/","og_locale":"en_US","og_type":"article","og_title":"British bosses give verdict on Jeremy Hunt&apos;s corporation tax increase - Pre Coin News","og_description":"&#8216;Businesses are on their knees&#8217;: British bosses","og_url":"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/","og_site_name":"Pre Coin News","article_published_time":"2023-03-13T01:02:23+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/03\/British-bosses-give-verdict-on-Jeremy-Hunts-corporation-tax-increase-.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/","url":"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/","name":"British bosses give verdict on Jeremy Hunt&apos;s corporation tax increase - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2023-03-13T01:02:23+00:00","dateModified":"2023-03-13T01:02:23+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/world-news\/british-bosses-give-verdict-on-jeremy-hunts-corporation-tax-increase\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"World News","item":"https:\/\/precoinnews.com\/category\/world-news\/"},{"@type":"ListItem","position":3,"name":"British bosses give verdict on Jeremy Hunt&apos;s corporation tax increase"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/172293"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=172293"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/172293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/172292"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=172293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=172293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=172293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}