Popular News From Popular Sites: UK's Labour look to shed 'anti-business' label with tax proposals

Sunday, June 29, 2014

UK's Labour look to shed 'anti-business' label with tax proposals

Britain's leader of the opposition Labour Party Ed Miliband speaks to the media outside his home in London By William James LONDON (Reuters) - Britain's opposition Labour party will on Monday attempt to cast off accusations that its left-leaning policies have made it 'anti-business' by proposing tax changes designed to increase long-term investment and foster greater competition. Since Labour announced plans to force energy firms to freeze their prices last September, businesses have become increasingly concerned about how much political intervention they would face if, as a narrow lead in opinion polls currently suggests, the party wins an election next May. Economy spokesman Ed Balls will promise an approach to tax and the economy that is "pro-business, but not business-as-usual". "If we are to maintain public support for an open market economy, we need to address public concerns, promote competition and long-term investment and make sure markets like energy and banking work better for consumers and businesses alike," he will say, according to advance extracts of his speech. Party leader Ed Miliband has said markets need more rules, and promised regulation to better protect consumers in industries from banking to private housing, prompting concern from business lobby groups and some of the party's own backers.




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