To further help business, he argued for various measures to encourage investment and productivity, such as a reform of business rates and the introduction of a form of ‘full expensing’.
Clougherty added: "There will be a time for fiscal conservatism, and for a balanced approach to deficit reduction, but for now the overriding objective must be to go for growth.
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"That means rejecting rumoured tax increases on business and investment, which would only undermine the recovery, and instead charting a clear course towards an increasingly competitive tax system."
simoney.kyriakou@ft.com
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