Thirteen years ago Britain's tax system was one of the most competitive in the developed world. Over the last decade other countries have cut their tax rates while our tax system has become one of the most complex in the world. Our competitiveness rating has fallen while the burden of regulation and the impact of taxation have risen. We can only make a sustainable economic recovery if we send a clear signal that Britain is open for business again.
Labour is planning to increase National Insurance in 2011. Anyone earning over £20 000 will pay more tax and employers will pay more tax on all jobs paid over £5 700. This jobs tax will kill off the recovery. The Federation of Small Businesses predicts it will cost 57 000 jobs in small and medium-sized businesses alone.
The Government has identified £11 billion pounds of waste ...
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