A new survey shows that UK businesses want tax changes in the Spring Budget that will help them to hire and invest.
The Recruitment and Employment Confederation (REC) asked employers what they most need to hear from the Chancellor today, with the common answer (cited by 41.7%) being an improvement on the tax system to support business investment.
The second most popular answer (11.3%) was greater child support for parents.
The most vocal about wanting changes to the tax system were the medium-size businesses with between 50 and 249 workers, (72.7%) and smaller businesses with fewer than 49 workers, (45.7%).
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The REC says that this reflects these firms’ lower capacity to invest if the tax system works against them.
Neil Carberry, REC Chief Executive, said, “We all know Britain has a problem with investment – yet it is companies committing to the long-term that drives the economy forward.
“Using the tax system to help drive business investment should be a key tool. From IR35 to the Apprenticeship Levy, and expensing rules that leave out hired kit to business rates, the system puts more barriers in the way of companies than it should.”
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