Tax and Fiscal Policy

Knee-jerk Covid regulations have damaged business’ trust in government

Sam Collins writes for City AM

Sam Collins, IEA Senior Policy Advisor, has penned an article for City AM on the impact of recent Coronavirus restrictions on the confidence that businesses have in government policy.

As Sam points out, businesses are currently subjected to the heaviest taxation since the mid-20th Century and it is vital that government reform a number of taxes to restore the trust that has been lost over the past 20 months.

“While the Chancellor has voiced his intention to reduce the tax burden, businesses need to trust that this is more than just empty rhetoric. Cuts or reforms to a smorgasbord of taxes, from the bank surcharge to business rates, would be economically beneficial and help boost growth.”

“Reforms won’t happen overnight. Given this government’s apparent fondness towards interference in our economy, perhaps they never will. But in the short term, it must provide certainty to the business community.”

Read the full article here.

Newsletter Signup