Dragon's Den business experts have joined in the chorus of disapproval over the simplification of capital gains tax rules.

Following the slating by the UK's biggest employer groups, including the CBI, of the government's changes to a flat rate of CGT, Dragon's Den panelists have voiced opposition to the move.

Theo Paphitis said it was an appalling decision that rewarded speculators but penalised investments in potentially fast-growing businesses, reported the Daily Telegraph.

Deborah Meaden said the move would damage entrepreneurialism.

James Caan, who appeared in his first Dragon's Den last night, said taper relief for CGT 'fuelled positive activity' for the economy. 'The chancellor had a great opportunity to make his mark, but to put a dampener on small businesses was not a good move.'

A petition to save CGT relief has also been opened on the Downing Street website.

Further reading:

Employer groups join forces over CGT