Nearly half of UK businesses have said the nation's tax regime is 'unfavourable' and puts Britain behind China and other rivals. Almost half of companies (44 per cent) surveyed believe the UK has an unfavourable business tax and regulatory environment, with 28 per cent viewing it as less favourable than China. 'Unfavourable': Manufacturers are seeking major business reform in next month's autumn budgetFirms have called for a simplification of incentives, tax and regulations. These include promoting a competitive corporation tax system and tax credits for R&D in Britain. Yet UK manufacturers find the framework a burden – putting UK industry at a disadvantage.'

Source: Daily Mail October 09, 2023 19:34 UTC