Chancellor’s Corporate Tax Cut Plans Challenged by WWF

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George Osborne 0486am by altogetherfool via Flickr

Karen Ellis, Chief Adviser on Economics and Development at WWF-UK, has made a statement following the recent announce by George Osborne MP, the Chancellor of the Exchequer, on his plans to reduce Corporation Tax.

She stated:

“Reducing corporation tax will not address the most important issues facing the competitiveness and productivity of our economy. The Chancellor needs to put in place a clear strategic vision for the UK’s long term economic future, that doesn’t focus on the short-term, but demonstrates the right fundamentals to support our growth in the global economy, especially by charting a much clearer course towards a resource-efficient, low carbon future.

We face a growing risk because our natural resources – which so much of our economic prosperity depends on – are being depleted for short-term gains.

From the depletion of our fossil fuels, the increased threat of flooding, air pollution generating enormous health costs and loss of productivity, water shortages and soil erosion affecting our farming industry, the Government must act to better manage the natural assets we all depend on in the UK.

The Chancellor should utilise the 25 year environment plan that Government has already initiated, to develop a strategy to guide us towards a more sustainable, competitive and resilient economic pathway, one that will promote competitiveness, stimulate innovation, investment and job creation and benefit the whole of the UK economy as well as the natural environment upon which we all depend. ”