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02 Sep 2011
BRITAIN’S tax system is "punitive" and deterring entrepreneurs, according to the president of the CBI.
Sir Roger Carr (pictured) made his remarks during a speech in Glasgow last night. He said: "High personal taxes may seem like good politics, but they’re bad for business. They should come down – and not just be replaced by a damaging property tax.
"The UK needs motivated entrepreneurs and it’s a fantasy to think that highly mobile, talented people will forever tolerate some of the most punitive tax rates in the developed world."
The comments come amid fresh debate over the 50% rate of income tax for those earning more than £150,0000 and the Liberal Democrats' mansion tax proposals. The 50% rate, which is now under review, was intended to be a temporary measure by the then Labour government. The Treasury is waiting to hear what sum of revenue is actually raised before deciding whether to continue with it.
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"it’s a fantasy to think that highly mobile, talented people will forever tolerate some of the most punitive tax rates in the developed world"
It is also a fantasy that the public will tolerate the costs imposed on society by some of these highly talented people (aka rapacious and incompetent clowns)for very much longer.
Posted by: roger rabbit, 02 Sep 2011 | 16:28
CGT Non Dom
Would he like to explain EXACTLY which part of the CGT / Non Dom 28% or less tax regime in the UK is less punitive than that in other countries?
The USA for example - no Non Doms, 23% Federal tax on high earnings
That after all is what "entrepeneurs" do - unless they are very silly
Greedy git
Posted by: Eleanor, 02 Sep 2011 | 21:29