A mounting tax burden could be putting finance graduate jobs at risk, it has been claimed.

Britain’s top finance directors, comprising the FTSE 100, have warned that increasing tax is threatening investment and job creation.

The warning follows reports that the government took 56.6 per cent of the companies’ gross profits in taxes last year – up from 48.6 per cent in 2008, the Telegraph reports.

The total tax rate for the FTSE 100 increased from an average of 38.2 per cent of total earnings in 2008 to 41.6 per cent in 2009, representing a year-on-year rise of nine per cent.

Ashley Almanza, chairman of the group and finance director of BG Group, told the news provider that planned tax increases from April would further hinder the creation of skilled jobs.

"What this clearly says to us is that all other things being equal the cost competitiveness of the UK will suffer as a result of the rising total tax rate," he said.

Meanwhile, the Federation of Small Businesses (FSB) has joined forces with other organisations in launching a petition urging the government to freeze National Insurance.

Research by the FSB recently found that increasing National Insurance by one per cent will cost 57,000 jobs.

"So you’re a student or graduate who wants a top paying career in Banking & Finance?”

If yes, watch the video on the right now to gain instant access to everything you need to secure a top paid career / internship in banking & finance (Valued at £197)…