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Alistair Darling cuts rise in business tax

In a move which has been welcomed across the business arena Alistair Darling has today confirmed that the expected 5% increase in business tax rates will be reduced to 2% this year with the remaining 3% spread over the next two years. However, while the reduction in the rise (which has been prompted by a significant fall in inflation) has not quelled the anger felt by many business leaders.

Despite the fact the UK is going through perhaps its worst recession for over 100 years the government appears adamant that it will continue to pile up cost after cost after cost in the UK business arena. The 2% increase in business tax is chicken feed compared to the billions of pounds which have been poured into the banking industry and many business leaders are concerned they are being left out of the loop.

There is no doubt that the rise in business tax could not have come at a worse time for the UK economy and the UK business arena. Over 100 companies are going under each and every day, finance is becoming tighter and tighter and consumer spending is weaker than ever before. Against this backdrop even a small rise in costs could be the difference between a successful business and going to the wall in these most difficult of times.

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