Businesses turn on chancellor over tax and bureaucracy

Chancellor
Gordon Brown has been criticised by business leaders for crippling UK companies
in the global market.

Corporate
giants such as GlaxoSmithKline, Diageo and Tesco said rising taxes and
increasing bureaucracy were damaging UK competitiveness.

Brown
was told that he was ‘paralysing’ UK business at a Treasury seminar for some of
the country’s biggest employers.

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Reports
in the Sun newspaper said Brown had promised to halt state spending and resist
further EU red tape.

By Ross Wigham