Businessman demands cut in corporation tax

Date: 5th November 2008

The government should reduce the amount of tax paid by small and medium sized enterprises, a north-west business leader has said.

According to the Lancashire Evening Post, Len Collinson, founder of the Private Sector Partners, has argued that any rises in the national minimum wage need to be halted for the time being.

Mr Collinson has also suggested that more needs to be done to preserve the traditional high street during the economic downturn.

He warned that while the major banks look set to be saved, their rescue should not come at the expense of smaller firms.

"[The government] may be taking the plaudits for bailing out the banking system, but it is smaller businesses that will pick up much of the bill," the local paper quoted him as saying.

"For this reason the public sector must do all in its power to energise the businesses and this means keeping taxes down and ensuring the banks are lending."

A recent survey by the lobbyist TaxPayers' Alliance revealed that almost 60 per cent of people believe that the best solution to the impending recession will be a reduction in taxation.