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Advisors making good progress, according to business secretary

The business secretary, Vince Cable, has further highlighted the fact that accountants in Chester, Liverpool and elsewhere in the UK are effectively dealing with tax avoidance concerns.

Cable spoke at a lecture presented by the Management Consultancies Association, where he unveiled a white paper put together by the government which outlined plans for growth in the professional services sector. He also said that the industry was among the country’s most exportable and that the UK is a world leader.

Accountancy Age challenged Cable on the government’s genuine take on professional services, considering it has been vocally critical of consultants, tax advisors and accountants. Cable did acknowledge that there are problems within the industry but when highlighting tax avoidance, he was confident that accountants are rectifying concerns.

He said that accountants are addressing the concerns professionally and that the industry generally provides services of a high value.

Cable further noted that, in spite of the challenging times, business and professional services exports have increased by over 100 per cent in the last 10 years.

“I want our top executives to think British in all their overseas business, particularly in emerging markets where a growing middle-class is demanding higher-quality services. If a British advertising agency runs a campaign in India, there will be a British legal firm available to finalise the contract, or British accountancy firm to handle the transaction.”

The government were assisted in writing the white paper by the Professional and Business Services Council.

Posted by Louise
July 16, 2013

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