Leading companies are warning of the UK’s declining competitiveness

<p>International businesses are telling us that the UK is losing its competitive edge. That means less investment and fewer jobs coming to Britain. Top of their list of complaints is often taxation. It’s not just that the UK’s corporation tax rate is well above the most competitive countries in the world; it’s also that people in business detect a far more aggressive attitude by the Revenue, with little certainty about how the Revenue will judge matters and a lack of consistency in their treatment.</p>
<p>There is also growing concern about the inadequacies of our transport system, where we lack capacity on both rail and road; about high energy prices and shortage of supply, and about over regulation. The UK lives by foreign trade and investment. It needs to stay competitive to ensure enough jobs and deecent living standards here at home. If governemnt continues to place burden after burden on business through regulation and taxation, and fails to tackle the urgent problems with our transport networks, skills and energy supply, unemployment will continue to rise.</p>

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One Comment

  1. Neil Craig
    Posted December 17, 2006 at 8:10 pm | Permalink

    We should compare Britain's economic growth of about 2.5%, despite the Thatcher "miracle" with that of Ireland at 7% since they cut corporation tax & regulations, particularly building regulations in 1989.

    We used to look down on the Irish as poor & backwards but this year they are passing the USA. We could do the same.

    I don't like the phrase "compulsory reading" but this is http://www.tcsdaily.com/article.aspx?id=032805E

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    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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