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Tories unveil tax breaks for businesses as Govt hints at cuts

The Conservatives are pushing the Government to introduce tax cuts targeted at boosting employment as Prime Minister Gordon Brown fuels speculation he is planning to reduce taxes.

Under the Tory plans businesses that offer jobs to people that have been unemployed for three months or more would receive tax cuts worth £2,500 per head in a move the party says would create 350,000 new jobs and give £2.6bn of tax breaks to businesses.

The Prime Minister Gordon Brown gave further hints that he was prepared to cut taxes yesterday when speaking at the Lord Mayor’s Banquet he referred favourably to planned tax cuts in Germany and the US, pointing out that measures work better when they are on a concerted international scale.

He said: “The benefits of any individual country’s fiscal action will be all the greater if this is part of a concerted and fairly distributed international response to maintain global demand.”

On Radio 4’s Today show this morning Conservative leader David Cameron said his proposals were “fiscally responsible”.

He said: “We are basically saying that instead of paying for benefits, what we would like to do is take that money and give it to employers if they take people off the unemployment register.”


Firms urged to diversify from AUM

Outgoing Personal Finance Society president Robert Reid has warned that adviser businesses relying solely on assets under management could be hit by losses of 30-40 per cent this year.

New property sector for funds

The Investment Management Association and the Performance Category Review Committee are to launch a new property sector, covering both direct and securities funds. The sector will come into force on January 1.

Pensions Dashboards around the World

Steve Webb’s latest policy paper British savers risk being left in the ‘slow lane’ unless the UK Government takes a more active role in ensuring the successful delivery of a Pensions Dashboard. The report, ‘Pensions Dashboards around the World’, coincided with a major conference that was held on Monday 16 May and brought together experts […]


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