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How can the UK government get businesses back onside?

Only a few months ago we saw a number of smaller companies suggesting they may look to relocate overseas because of the aggressive tax strategies introduced by the UK government. While many dismissed these threats as straws in the wind, over the last few days we have seen the likes of Diageo and Unilever suggesting they would consider relocating overseas unless the tax environment in the UK becomes more favourable towards businesses. So how can the UK government get businesses back onside?

In the short term it looks as though the UK government is stuck between a rock and a hard place because having set out a very aggressive tax regime for the short to medium term it would be difficult to lose face with any U-turns as we approach the election. Therefore any reduction in the tax liability of UK businesses and UK employees will have to wait until the next government has been formed and reviewed the situation in more detail. Traditionally the Conservative party has been the "friend of business" although in reality there is very little opportunity to reduce the tax burden in the short term at least.

While some businesses are expressing concern about the short term tax outlook, the truth is that businesses leaders are likely to be looking for concessions in the medium to longer term once the economy has settled down and moved back into a growth phase.

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