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| Company directors support emergency Budget measures |
More than four out of every five company directors in the UK support the government's Budget measures announced yesterday, a study has found.
Research conducted by the Institute of Directors (IoD) indicates that 83 per cent of executives believe the business taxation and public spending measures will have a positive impact on the UK economy.
Some 90 per cent of the 640 directors surveyed said they believed the measures would help reduce the UK's fiscal deficit, while 61 per cent claimed they are now more positive about the short-term economic outlook.
Plans to reduce the main rate of corporation tax from 28 per cent to 24 per cent over the next four years were well-received by 92 per cent of respondents.
The same proportion backed the one per cent cut in the small business rate to 20 per cent - a change which could encourage more company formations in the UK.
Miles Templeman, the IoD's director-general, said that while "some measures were more painful than others for businesses", the government's strategic approach to more competitive and simpler taxation was "well received".
"If the Budget's impact feeds through the system, we should see greater levels of business optimism and with time, higher levels of business investment," he claimed.
"Yesterday was a very sound start for the new government."
Last week, John Walker, national chairman of the Federation of Small Businesses, called on the chancellor to inspire confidence in the sector by offering growth incentives to small enterprises. |
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