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Business loans to help against Labour's 'bad for business' taxes
Reported on Mon, 26 Jun 2006
The UK is no longer a safe place to do business in, according to one commentator, though a business loan may help small to medium enterprises (SMEs) to cope with the amount of red tape and taxes faced by companies in the country.
In a speech given to mark his last week as director general of the CBI (Confederation of British Industry), Sir Digby Jones criticised the Labour government for the lack of help it has shown to UK-based businesses.
Sir Digby claimed that running a business in the UK has got progressively more difficult since Labour was elected in 1997.
"From a regulatory, taxation and transport point of view it has got more difficult to do business in the last six-and-a-half years," he said.
"I get more and more business men and women who say to me 'I'm paying more tax than ever' and it is more expensive to do business in Britain than Germany from a taxation of point of view."
With small businesses and self-employed tradesmen facing higher taxes, a secured business loan could help to ease the financial worries of doing business in the UK.
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