The government needs to get the "balance right" on corporation tax ahead of its budget, a top business leader has told Sky News, warning the UK needs to attract and grow businesses.
John Neal, chief executive of commercial insurance market Lloyd’s of London, said Labour needs to get tax in the "right place corporately so it encourages businesses to want to operate from here".
He added: "There are clearly financial difficulties for any government, but let’s get the balance right so that we can allow businesses to grow".
He also spoke about the importance of "stepping up" in a "riskier world".
Lloyd’s of London, which is made up of more than 50 companies, has announced a 26% rise jump in pre-tax profits for the first half of the year to £4.9bn.
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