Colin Graham, Head of Tax Policy, PwC UK
“Business has been looking for stability and more certainty for investment after a long period of speculation that has seen many press the pause button on key decisions. Many will now be delighted to be clear of this Budget and take some confidence from the headroom created.
“It’s important for business to have the continued commitment to the tax roadmap and a budget of no major tax policy surprises as they absorb the financial cost of April’s Employer NI increase. Big questions do remain on some of the larger tax policy levers that could be pulled to support economic growth for the medium- to long- term to realise the potential in the UK economy.
“According to our report today for the 100 Group, the total tax rate on the UK’s largest businesses is again over 45% of profits – there will be some relief today that the tax burden on business will not increase further, but today’s smorgasbord complicates rather than simplifies our tax code.”
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