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Tories claim pro-business stance Tories claim pro-business stance
(20 minutes later)
Shadow chancellor George Osborne has rejected claims that the Conservatives are anti-business, speaking at the annual meeting of industry lobby CBI. Shadow Chancellor George Osborne has rejected claims that the Conservatives are anti-business in a speech at the annual meeting of industry lobby CBI.
Mr Osborne is standing in for party leader David Cameron, who opted instead to visit British troops in Iraq.Mr Osborne is standing in for party leader David Cameron, who opted instead to visit British troops in Iraq.
He said while some suggested the Tories failed to "understand the importance of business," the party was engaging with individual firms "as never before".He said while some suggested the Tories failed to "understand the importance of business," the party was engaging with individual firms "as never before".
Mr Cameron's absence has upset business leaders and disappointed the CBI.Mr Cameron's absence has upset business leaders and disappointed the CBI.
'No apology''No apology'
"It is a paradox that, at the very moment when we have caught the political imagination of the country and we are engaging with individual businesses as never before, some claim that we do not understand the importance of business," said Mr Osborne."It is a paradox that, at the very moment when we have caught the political imagination of the country and we are engaging with individual businesses as never before, some claim that we do not understand the importance of business," said Mr Osborne.
The Shadow Chancellor stressed that the Conservative Party knew how important business was, and that without a strong free economy little else could be achieved. The Shadow Chancellor stressed that the Conservative Party knew how important business was and that without a strong free economy little else could be achieved.
Placing the environment and social responsibility and flexible working hours at the heart of the political agenda was "not because we are somehow anti-business", Mr Osborne insisted. Placing the environment, social responsibility and flexible working hours at the heart of the political agenda was "not because we are somehow anti-business", Mr Osborne insisted.
For too long the Tory party had ignored these issues: "I make absolutely no apology that we have been talking about this new business agenda," he said.For too long the Tory party had ignored these issues: "I make absolutely no apology that we have been talking about this new business agenda," he said.
The speech comes as the Tory party announced plans to impose a carbon tax on British businesses to encourage them to cut their CO2 emissions.The speech comes as the Tory party announced plans to impose a carbon tax on British businesses to encourage them to cut their CO2 emissions.
The party believes the proposal would raise more revenue than the existing climate change levy.The party believes the proposal would raise more revenue than the existing climate change levy.
Following Mr Osborne's speech, Nick Cragg, managing director for Corus Engineering Steel, said: "We think it is a reasonable direction, but I think it has got to be balanced with the business message."
'Uncertainties''Uncertainties'
The decision to replace Mr Cameron with Shadow Chancellor George Osborne is likely to be seen by some as a rejection of business interests.The decision to replace Mr Cameron with Shadow Chancellor George Osborne is likely to be seen by some as a rejection of business interests.
CBI president Sir John Sunderland said he was "disappointed" by the decision.CBI president Sir John Sunderland said he was "disappointed" by the decision.
"It would have given him a chance to address some of the uncertainties about his position on a number of important business issues, so we see this as a missed opportunity," Sir John said."It would have given him a chance to address some of the uncertainties about his position on a number of important business issues, so we see this as a missed opportunity," Sir John said.
Other attendees echoed this view. "My only response is, why did Cameron pull out," said one chief executive of a leading UK group, who declined to be named because the Tory party is one of his company's clients.
"We've come here to hear what he had to say, what he was going to do. He could have gone to Iraq any day. He's sending out the entirely wrong message by going to Iraq."
The two day event will feature debates on the UK's ability to compete internationally, globalisation and energy security.The two day event will feature debates on the UK's ability to compete internationally, globalisation and energy security.
Tax burden
On the eve of the conference the CBI published a survey which suggests that the UK's burdensome and expensive tax system has undermined the UK's reputation as an attractive business location.On the eve of the conference the CBI published a survey which suggests that the UK's burdensome and expensive tax system has undermined the UK's reputation as an attractive business location.
The business organisation polled top executives in 87 major firms and found that two-thirds were unhappy with the government's tax regime.The business organisation polled top executives in 87 major firms and found that two-thirds were unhappy with the government's tax regime.
It was a major factor for the 20% of firms that had shifted some operations abroad and the 30% considering it.It was a major factor for the 20% of firms that had shifted some operations abroad and the 30% considering it.
In its defence the Treasury highlighted a report from consultants KPMG which showed that the administrative burden of the UK's tax regime was 0.4% of economic growth, half that seen in the Netherlands.In its defence the Treasury highlighted a report from consultants KPMG which showed that the administrative burden of the UK's tax regime was 0.4% of economic growth, half that seen in the Netherlands.
The Treasury also said a World Bank survey found that the typical UK firm has the lowest tax level of all the G7 group of developed nations.The Treasury also said a World Bank survey found that the typical UK firm has the lowest tax level of all the G7 group of developed nations.
In reaction to the survey, Mr Osborne, said that he hoped to introduce measures to "radically simplify business taxes" with his very first budget, if elected.In reaction to the survey, Mr Osborne, said that he hoped to introduce measures to "radically simplify business taxes" with his very first budget, if elected.