Conservative proposals to reduce the amount of tax relief on borrowing have been met with concern as large businesses claim that the moves could lower international investor interest in the UK. Earlier in the year, shadow chancellor George Osborne claimed that he would look to tackle the 'generosity of interest deductibility'. His plans to target this tax break for interest costs will allow the Tories to keep to their pledge of reducing corporation tax to 25%, resulting in a revenue-neutral package of reforms. Ernst & Young's head of tax policy, Chris Sanger, told the Financial Times that any changes to the current conditions for businesses could 'make the UK far less attractive'. A spokesman for the CBI said: 'This is a very important issue and one that will need careful consideration. We are currently consulting our members.' Meanwhile, the EEF, an industry group for manufacturers, commented that 'interest deductibility is potentially too big a price to pay to finance a reduction in headline rate'.