Manufacturers call for Budget tax reversal
The manufacturers’ organisation EEF has put a call for a small company tax freeze at the top of its demands of Alistair Darling’s Budget later this month.
The organisation says the planned phased increase in the small company rate of corporation tax represented a £500m tax rise this year, rising to £1bn next year and called for the April 2008 to be reversed and the rate frozen at 20% until 2010, at the earliest.
EEF is also asking for the Annual Investment Allowance to be raised from £50,000 to £250,000 for a period of 18 months; the postponement of increases in the landfill tax; a delay in the implementation of the right to request flexible working; and more clarity about the role of tax policy in meeting the government’s environmental obligations.
