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Alliance Boots chief warns UK of anti-business tax regimes Monday, 30th April 2012
The executive chairman of Alliance Boots has warned the UK of creating an atmosphere that is “more and more against business” as the government looks to toughen up on its tax regime.
In an interview with the Financial Times (FT), Alliance Boots chief Stefano Pessina welcomed the changes by the UK government to reduce the rate of corporation tax, but warned:
“The atmosphere of the country should be consistent with what the government is trying to do, and the general atmosphere of the country is really more and more against business.” Pessina told the FT.
Having located to Zug, Switzerland, in 2007, Alliance Boots has dealt with its fair share of criticism for its own tax bill, after paying £59 million on pre-tax profits of £637 million. Pessina suggested that if the atmosphere in the UK for businesses did not change, then companies were likely to look for a more favourable climate elsewhere.