The boss of McVitie's has warned that it's becoming harder to argue for investment in Britain under the Labour government. Salman Amin, who runs the biscuit giant's parent company Pladis, said his business had been confident in investing in the UK over the past ten years - but that this had changed.His comments follow remarks by the head of the Confederation of British Industry , who warned that tax rises in the Budget were making businesses wary of hiring and investing in the UK.
Earlier, CBI chief Rain Newton-Smith said: "Across the board, in so many sectors, margins are being squeezed and profits are being hit by a tough trading environment that just got tougher."And here's the rub, profits aren't just extra money for companies to stuff in a pillowcase. Profits are investment... When you hit profits, you hit competitiveness, you hit investment, you hit growth.