UK tax regime 'unsupportive' of enterprise - survey
Almost three-quarters (73 per cent) of private businesses in the Midlands say the government's tax regime is unsupportive of enterprise. That's according to research from PwC in the Midlands.
Businesses across the region were interviewed by PwC as part of its fourth Enterprising UK survey.
Despite the government's efforts to introduce policies intended to support enterprise and innovation, the research suggests the majority of private businesses believe the tax regime fails to do so.
Grant funding for apprenticeships, the extension of the small business rate relief holiday, and reforms to the Enterprise Investment and Venture Capital Trusts schemes will have "no impact", said 47 per cent, 61 per cent and 59 per cent of Midlands-based private businesses respectively.
Chris Romans, partner and private business expert at PwC in the Midlands, said: "Private businesses in the region hold the key to future economic growth, many having weathered the recession better than their listed counterparts.
"The government says it recognises this but certain measures designed to support business endeavour are not having their intended effect. Incentives and initiatives are all well and good if they’re easy to access, but the businesses we speak to want changes that make their everyday lives easier."
