CBI Calls for Tax Rise
The Confederation of British Industry has called on Tony Blair's government to raise taxes rather than interest rates.
The CBI Director General says there is the danger that the British economy is getting too close to a boom.
He says Chancellor Gordon Brown should have no hesitation over increasing taxes in his forthcoming budget.
But Mr Turner, speaking on Radio 4's Today programme, refused to be drawn on which taxes should be raised.
He said that in general the CBI had a preference to slow down the economy.
"It needs to be slowed down slightly on the fiscal side which would mean tax rises rather than relying solely on interest rate rises."
"There are several different ways of raising taxes including looking at allowances, the size of the tax base and mortgage interest relief.."
"I don't want to talk in detail at this stage," he said, "the CBI will develop a detailed input ahead of the budget.
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