Embargoed: 00:01 Monday 23rd September
Today the TaxPayers' Alliance (TPA) launches The Bumper Book of Burdens on Business which outlines the bureaucratic regulation and taxes such as VAT, business rates, fuel duty and corporation tax which are stifling innovation, productivity, growth and entrepreneurship.
While the UK consistently ranks towards the top of world league tables in terms of ease of doing business, successive governments have imposed burdens which impact workers, consumers and the wider economy.
Speaking at a launch event in Westminster, Barry Hearn, Chairman of Matchroom Sport and country's leading sporting events promoter, joins the TPA in arguing that politicians should back British business. The Bumper Book of Burdens on Business makes a number of recommendations, including cutting the business rates multiplier, deducting investment from taxable income and reducing payroll taxes like employers' national insurance.
With the tax burden at a 49-year-high, and Britain poised to leave the European Union, now is the time to be discussing how best to back British businesses.
Commenting on the release of The Bumper Book of Burdens on Business, John O'Connell, chief executive of the TaxPayers’ Alliance, said:
"Businesses are vital to Britain's prosperity and this book highlights a handful of the many ways they are burdened with endless taxes and excessive red tape.
"These burdens affect companies no matter how big or long established they are, but worse still they discourage Brits from starting a business in the first place. With some politicians constantly doing down our best and brightest firms, it's a tough environment for our entrepreneurs.
"If Britain wants to be a leader on the world stage, then the government must champion pro-prosperity policies that encourage growth, innovation and entrepreneurship."
Barry Hearn, chairman of Matchroom Sport, said:
"Many people out there, trying to run their own businesses, must be tearing their hair out. Over the last few years, the language directed at business has drifted back to resentment and distrust.
"But let's be clear. Businesses don't pay taxes: they're paid by entrepreneurs, shareholders, staff and customers. And make no mistake, these burdens on business are huge barriers to the working class kid from Dagenham who wants to change his and his families lives, just like I did.
"With Britain poised to leave the European Union, this country would be much better off if politicians spent time trying to help kids achieve their entrepreneurial dreams, by backing our businesses to the hilt, instead of lecturing them about the evils of capitalism and blaming everything on the people that have done well for themselves."
TPA spokesmen are available for live and pre-recorded broadcast interviews via 07795 084 113 (no texts)
Political Director, TaxPayers' Alliance
24-hour media hotline: 07795 084 113 (no texts)
Founded in 2004 by Matthew Elliott and Andrew Allum, and now with 80,000 supporters, the TaxPayers’ Alliance (TPA) fights to reform taxes, reduce spending and protect taxpayers. Find out more about the TaxPayers' Alliance at www.taxpayersalliance.com.
TaxPayers' Alliance's advisory council.
- The TaxPayers' Alliance recently published the Freedom Factbook showing how free markets have created more prosperous societies.