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Treasury announces tax measures to boost competitiveness
21/02/2007
New tax measures to improve the competitiveness of the UK economy in Europe have been welcomed by the economic secretary to the Treasury.
Ed Balls has claimed that a modernisation of the tax system would increase the choice of financial trading instruments on offer in the UK.
This will lead to greater freedom for British firms to compete in the European Union (EU) and take advantage of the new Markets in Financial Instruments Directive (MiFID).
Mr Balls commented: "The opening up of financial markets in the EU is a great opportunity for the UK."
"With the measures I am announcing today, the structure of the UK tax regime will reinforce the more open and competitive trading environment that we are creating in Europe."
The economic secretary was speaking after a meeting with European Commissioners Charlie McCreevy and Neelie Kroes to address issues facing the future of European financial services.
Ed Balls has claimed that a modernisation of the tax system would increase the choice of financial trading instruments on offer in the UK.
This will lead to greater freedom for British firms to compete in the European Union (EU) and take advantage of the new Markets in Financial Instruments Directive (MiFID).
Mr Balls commented: "The opening up of financial markets in the EU is a great opportunity for the UK."
"With the measures I am announcing today, the structure of the UK tax regime will reinforce the more open and competitive trading environment that we are creating in Europe."
The economic secretary was speaking after a meeting with European Commissioners Charlie McCreevy and Neelie Kroes to address issues facing the future of European financial services.