by business editor Trevor Sturgess

Bosses have called for corporation tax to be slashed to encourage enterprise and jobs.

As Shepherd Neame chairman Miles Templeman steps down as director-general of the Institute of Directors, his successor Simon Walker has urged the government to take radical measures.

Mr Templeman retired last week after seven years at the IoD which has a lively Kent branch.

Before leaving the role, Mr Templeman voiced his disappointment that successive governments had "too often failed to turn their pro-business rhetoric into a comprehensive pro-business policy."

"The current government's approach to employment regulation is a prime example where we have made no progress in reducing the regulation burden, despite some well-meant initiatives. If anything the situation is getting worse overall."

Mr Walker, who was a policy adviser to John Major when he was Prime Minister, and a former communications secretary to the Queen, said growth was the most important aspect of economic policy.

"Without the belief that UK economic growth is expanding, confidence will wane, international investment will dwindle and British consumers and taxpayers will be left picking up the crumbs at the tables of faster growing competitors.

"The Government's deficit reduction programme is a step in the right direction - but it must go faster and further before the economy is on track and prosperity returns."

The plan urges the Bank of England to inject more money into the economy (quantitative easing), slash corporation tax to 15%, axe the 50% top tax rate for high earners, and cut red tape.