ICAEW: Brown failed to deliver on tax and regulation

News Article - 24 May 2012
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Responding to this week's pre-Budget report, the Institute of Chartered Accountants in England and Wales (ICAEW) is calling for a simplified tax system and better regulation.

In delivering his report, Gordon Brown failed to announce proposals for a simpler tax system for the tenth time in a row, according to ICAEW.

The institute's chief executive Michael Izza, who took his role earlier this month to succeed Eric Anstee, said: "Despite ten pre-Budget reports, we are disappointed that Gordon Brown has not delivered a more simplified tax system – essential for business confidence.

"The fact that some of the tax legislation is now so complex that even HMRC (HM Revenue and Customs) staff have difficulty working with it is an indication of the scale of the problem."

In addition, the ICAEW suggested that HMRC workforce cuts of at least 10,000 employees would jeopardise the amount of support businesses receive.

Better regulation was requested by the institute's head of small and medium-sized enterprises, Clive Lewis, who said that the government had made no effort to engage with companies on reducing the cost of new regulation which totals around £7.7 billion.

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