In My Opinion

It was against the backdrop of growing concern about the competitiveness of the UK tax system that the report of the Tax Reform Commission (TRC) set up by George Osborne was launched. The CBI has commented that Britain has become significantly less competitive during the past five years as a centre for attracting and retaining large companies — a sentiment that was reiterated when KPMG said: 'The general trend for the UK's tax system in recent years has been towards more complexity and less certainty which is gradually making the UK a less competitive location for industry.'

George Osborne set up the TRC to address the concerns that...