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AHEAD of the Budget tomorrow (Wednesday) businesses across the North East have voiced what they want the Chancellor to announce, including a balance between tax rises and for a fairer furlough scheme to continue.
John Elliott, chairman of County Durham-based Ebac Limited, said: “The Chancellor needs to think radically, but simply. Make tax easier to collect and much more difficult to avoid; replace corporation tax with a turnover tax and replace income tax with sales tax. This could add billions to the Chancellor’s coffers, particularly from those giant entities that avoid paying their UK taxes.
“Rather than making growth the Holy Grail, focus on supply rather than increasing demand to balance the books. It should be more profitable to invest in real businesses than buying shares on the stock market and we should encourage internal investment rather than inward investment. We will never have a strong economy without a solid, British-owned manufacturing base.” ....

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