The chancellor Alistair Darling yesterday listened to pleas from business leaders in a face-to-face meeting with Britain's four employer groups but remained unmoved on his capital gains tax policy. However, he might consider other changes to the tax system to boost enterprise.
Leaders from the four largest business trade bodies said the rise in CGT from 10% to 18% would damage enterprise. They also said businesses feared a lack of consultation before its announcement revealed a shift in sentiment by the government away from business and its support for entrepreneurs.
‘Mr Darling said he would be happy to work with the four business groups to develop measures to stimulate enterprise in the UK, and that he would listen to the group’s proposals for a way forward on capital gains tax,´ Richard Lambert, Confederation of British Industry (CBI) director-general, told Timesonline.
‘We believe the pre-Budget proposals represent a significant step in the wrong direction for the UK economy, and we will continue to press the case for them to be changed. As things stand, they will hold back vital investment in businesses of all sizes and send out totally the wrong message about the Government’s attitude to enterprise.’
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