Employers Condemn Balls Tax Rise

That radical new Balls policy: increase taxes. Don’t say the bosses of some of the largest employers in Britain didn’t warn you:

  • Rob Templeman, chairman of the British Retail Consortium, Gala Coral and the RAC: “this tax increase would be bad for business in Britain. It would put the recovery at risk, deter investment and  ultimately cost jobs”
  • Sir Stuart Rose, former executive chairman of Marks and Spencer: “This will put at risk all the good work that has been done to put the economy back on track.”
  • Mike Lynch, co-founder of Autonomy Corporation and former Labour donor: “The proposed tax increase would put jobs and the economic recovery at risk and discourage investment into the UK.”
  • Ian Cheshire, chief executive of Kingfisher: “Putting up the percentage rate is the wrong answer. When the rate was cut the total tax paid went up and the top 0.1% now pay over 30% of all income tax. Raising the rate is bad economics and sends an anti business message that may undermine investment plans and the recovery”

Dracula will be a vegetarian before Ed Balls balances a budget.




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Quote of the Day

Angela Rayner on Labour’s economic policy (via Speccie):

“It is a bit of a sh*t-or-bust strategy…”

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