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CBI president accuses government of ‘economic vandalism'
Martin Broughton, the chairman of British Airways and the outgoing president of the Confederation of British Industry (CBI), has accused the government of ‘economic vandalism' over the new 50p income tax rate on those earning more than £150,000 a year.
Mr Broughton commented that the government was using the new income tax rate, introduced in last month's Budget, as a means of diverting attention away from the UK's growing deficit and also criticised the Budget's growth forecasts for the UK economy.
"To try to divert media attention from this [economic] failure by tearing up the manifesto commitment to the country's entrepreneurial class - the major job creators - was nothing short of economic vandalism," said the BA chairman.
Business leaders have warned that the new 50p rate, which will come into effect from next April, could drive wealth creators away from the UK.
Post Date: May 21st, 2009
Mr Broughton commented that the government was using the new income tax rate, introduced in last month's Budget, as a means of diverting attention away from the UK's growing deficit and also criticised the Budget's growth forecasts for the UK economy.
"To try to divert media attention from this [economic] failure by tearing up the manifesto commitment to the country's entrepreneurial class - the major job creators - was nothing short of economic vandalism," said the BA chairman.
Business leaders have warned that the new 50p rate, which will come into effect from next April, could drive wealth creators away from the UK.
Post Date: May 21st, 2009
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