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What Suffolk businesses need from the new Chancellor

Britain's new Chancellor Alistair Darling is being urged by East Anglian accountants and business advisers PKF to keep the economy moving by encouraging inward investment and putting the brakes on stealth taxes.

Peter Harrup, a partner and tax specialist at PKF, which has offices in Ipswich, Norwich and Great Yarmouth said: "After 59 quarters of growth, businesses will want to see this continue. One of the best ways to help them is for Gordon Brown's new chancellor to decrease the amount of stealth taxes that are proving a business burden.

"When he was Chancellor, Mr Brown introduced a golden rule that he would only borrow money for investment purposes - that rule has slipped and we have seen him borrowing money for day-to-day expenses.

He warned: "If the practise continues under his leadership the new chancellor will continue to find more ways to tax the economy to find extra funds to pay for the borrowing.

He added: "We want to make UK PLC very competitive and we would like to urge the Chancellor to give more tax incentives to international companies to encourage them to come here.

"A more pragmatic, consultative approach to the general tax laws would be useful, too. He should work harder to soften the impact of tax rules so that businesses can actually work with them to avoid some of the red tape."

Article by BDO LLP

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