On business rates,corporation tax, insurance premium tax and much more, and the chancellor is far from being British firms’ champion. So where’s the criticism?George Osbornes newly acquired devotion to taxing sugar was a calculated distraction from the pain of transforming the annual deficit into a surplus over the next five years. His meddling in education policy and £100m support for the homeless were likewise smoke bombs thrown to divert attention from his adding another £4.6bn of disability benefit cuts to the enormous welfare reductions needed to create a budget surplus in 2020.
The business community supports his mission and backs nearly without question the £12bn of welfare cuts,pay restraint in the public sector and generous tax breaks for the better-off that allow Osborne to make up the numbers. It cares microscopic that the £4.6bn of personal independent payment cuts were abandoned. It knows there is plenty of time to find an alternative.
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Source: theguardian.com