Mr Gove has faced increasing pressure to scrap the unpopular charge, which was intended to bring in £65m to £90m annually. A one per cent levy on the top 100 UK firms, which have combined revenues of £20.64bn, would potentially generate over £200m annually.
Weak lobbying position
The move promises to ignite controversy over arbitrary taxation of one industry and fuel resentment among City firms, who are already up in arms over rising court fees in civil cases. But it remains to be seen whether the traditionally weak City law lobby can succeed against one of the most influential government ministers in Mr Gove. Source: Legal Business
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