CBI calls for targeted tax cuts ahead of Budget

The Confederation of British Industry (CBI) has called for the government to implement a series of “targeted and modest” tax cuts to help give businesses a £500m boost, it was reported today.

Ahead of March’s 2012 Budget, the CBI has requested a series of tax measures designed to boost confidence and increase growth in the UK’s businesses.

Many businesses have real potential to implement ambitious growth strategies and increase their staffing levels but with confidence still low across the private sector, growth plans are often being delayed and stalled, the CBI claimed.

"The chancellor must use this Budget to score the growth and investment policy goals he put forward in his Autumn Statement," said CBI director general John Cridland.

Some of the measures called for by the CBI include a simplification of taxes on carbon emissions and tax cuts for businesses investing in infrastructure projects.