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News - 27 September 2011

British Chamber of Commerce calls for New Growth Measures

The British Chamber of Commerce (BCC) has called on the Government to do more to promote UK growth. They want a 1p cut in the National Insurance paid by employers and for the 50p rate of income tax to be scrapped. The BCC went on to say that if the economy had not improved by 2012, spending on health and overseas aid might have to be cut.

This follows the recent cut in the UK growth forecast by the International Monetary Fund.

Predictably the Government and the Opposition have varying views on the matter.

Labour leader Ed Miliband has also called for measures to stimulate growth, including a reduction in VAT.

While the Prime Minister David Cameron has insisted that the Government will not be revising its efforts to reduce the budget deficit, despite the lack of UK economic growth.

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