Directors warn Brown against Budget tax cuts

The Institute of Directors yesterday advised the Chancellor, Gordon Brown, against a tax-cutting Budget, warning that the state of the public finances did not give him sufficient scope. The IoD also urged him not to force business to administer the working family tax credit which is widely expected to be the centrepiece of his budget speech in March.

A similar call came from a leading accountant, Michael Snyder, senior partner with Kingston Smith, who said that making companies responsible for its administration could impose a huge burden on small businesses and even leave them open to legal action from the Inland Revenue and Benefits Agency.