RGA responds to PoC 15 percent confirmation
Clive Hawkswood, CEO of the Association, said: “We have repeatedly said that the reason that the vast majority of well-known British companies operate from other jurisdictions is that the UK tax burden is unreasonably heavy and makes it very difficult to compete in the international market. This new regime has given the Government the perfect opportunity to correct past mistakes and it is very worrying that despite all the evidence it has not done so.
"Not only KPMG, but other respected experts at PwC and Deloitte, have all reached the same conclusion that any rate above 10 percent GPT is not sustainable in the long term. We cannot make the case any more clearly. "We will continue to engage with HM Treasury in pursuit of what we believe should be the common objective of establishing a viable long term UK market where licensed and tax-paying companies can not only survive but thrive."
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