Firms' debt call to new regime

FIRMS want the next government to "get a serious grip" on public finances and slash business red tape, according to a new report today.

Research by the British Chambers of Commerce showed that two out of five companies wanted the incoming government to make reducing the budget deficit its top priority.

A fifth of the 400 firms questioned called for red tape to be cut, while 13 per cent argued the focus should be on making the country's tax system more competitive. Businesses said increasing National Insurance contributions would be the most damaging tax.