| Tories urge u-turn on foreign profits tax |
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| Written by Adrie van der Luijt | |
| Wednesday, 21 May 2008 | |
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George Osborne has called on Alistair Darling to back down over his plans to tax foreign profits.
Two new pieces of research - from PricewaterhouseCoopers and the Conservatives - show that exempting foreign profits from tax could increase the UK's competitiveness and prevent a further loss of corporation tax revenues. Osborne, the Shadow Chancellor, urged Darling to "do yet another u-turn" in the light of this research and abandon "his badly thought-through proposals" on taxing foreign profits. He accused the Chancellor of damaging the competitiveness of the UK as a location for multinationals by creating uncertainty over the future of the tax system. "Alistair Darling's dithering is damaging our economy and undermining tax revenues," Osborne concluded. Related articles
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