Reducing corporate tax a "worthwhile goal"

Bringing down corporation tax in the UK is a ’worthwhile goal’, as it would improve economic growth in the country.

This is the view of chartered financial planner at Informed Choice Martin Bamford, who said such a move would benefit both shareholders and taxpayers.

Bringing down tax may also help tempt back businesses that have left the UK and relocated overseas - something that may boost demand for private banking services.

’It is about time that [the] government placed greater emphasis on restoring confidence in private enterprise,’ Mr Bamford remarked, adding it is the private sector that will be largely responsible for growing the country’s economy.

However, he noted other issues will also have to be taken into consideration when attracting enterprises back to the UK, as regulations and the cost of human resources will have also played a part in their decision to relocate.

Mr Bamford was commenting after new chancellor George Osborne said at the Confederation of British Industry’s annual dinner that the new coalition government aims to give Britain the most competitive tax regime out of all the G20 countries.ADNFCR-2318-ID-19792234-ADNFCR