Small and medium sized businesses account for a significant proportion of the UK economy yet they are feeling the pinch due to high tax levels and the ever upwards creep of red tape and regulation. In addition, claims the BCC, they are suffering because of a crumbling transport infrastructure and education system that does not properly prepare school leavers to achieve in the global market place.
David Frost, Director General of the British Chambers of Commerce, said: “Whilst business in the UK is still highly competitive on the world stage it is crucial that the government does not take our position for granted.
“There is growing consensus that corporation tax needs to be cut whilst the poor state of our transport infrastructure is hardly a secret.
“We are in a period whereby economic growth has been sustained over the long term and we urge the Chancellor to take measures to ensure this continues into the future. We are calling on him to address our four key areas of concern in order to ensure that Britain remains a competitive and attractive place to do business."
The group's PBR submission highlights four policy areas that it believes are crucial for the Government to focus upon to provide the right climate for business.
Tax
The priority is still for a lower tax burden and a simpler tax system. In particular:
Transport
Skills
BCC would like to see reform of the education system so that young people are better prepared for the world of work when they leave school. There should be a particular focus on:
Regulation and red tape
BCC's research has demonstrated that regulation continues to inhibit the competitiveness of British business with the 2006 Burdens Barometer measuring a cumulative burden of £50.27bn.
--
If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy.
-
Susie Hughes
The Editor © Hardhatter 2006