Thursday 22nd October

UK is burdened with tax regime

UK is languishing at 16th  place in PWC tax league table which measures the burden of tax on medium sized firms, even after climbing the table for the first time in seven years. Top of the table is the United Arab Emirates, Hong Kong 4th and Ireland 6th. Writing in CityAM Allister Heath despairs about the arbitrary nature of the UK tax code. A medium sized company has to make eight tax payments and spend 110 hours on tax compliance.

Garden cities plan unveiled

Nick Clegg is to reaffirm the coalition’s promise to create “garden cities and suburbs for the 21st century” by offering incentives for the creation of imaginative settlements. Clegg will argue that Britain must build its way out of housing crisis creating up to 25,000 new homes, with sustainable and socially diverse projects. However, the coalition has yet to show how it intends to turn the rhetoric into reality.

Plea for relaxing Christmas trading hours

Morrisons, UK’s fourth largest supermarket chain, joined Asda in a call for Sunday trading laws to be relaxed on Sunday twenty-third December. The second day before Christmas is usually the busiest day of the year but retailers will be restricted to a maximum of six hours trading.

Local to become very local

Good news from Sainsbury’s on the recruitment front as they announce plans to open 300 branches of its Locals arm over the next three years, with the creation of 10,000 jobs. Chief executive Justin King said ‘Ninety five per cent of the population are not yet within a 15-minute walk of our convenience stores.’

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