Big businesses in the UK have warned the Chancellor Alistair Darling not to consider them as an easy touch in his forthcoming Budget speech.
A survey of Britains largest businesses, conducted by Price Waterhouse Coopers, showed that the 72 companies that took part, paid a total of £23billion in tax last year, of that £12.8billion was in corporation tax, more than a quarter of the total corporation tax collected by the Treasury.
The chairman of the Hundred Group, Ashley Almanza, group finance director at British Gas, said that Mr Darling should not turn to the corporate sector for extra funding to ease mounting stresses on government finances.
“For members of the Hundred Group, tax is increasing faster than GDP, faster than inflation and faster than the rate at which overall tax receipts are increasing.
“I think not just the Hundred Group but business more widely would be severely disappointed if we see an increase in the total tax from companies. It would make no sense at all to increase the burden on corporations which are such a vital part of the economy’s performance.”
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