Employers bodies unconvinced by CGT relief
Business powerhouses will gain nothing from CGT changes, while the government's policy towards taxing business sends out the wrong signals, say employer reps
The CGT relief for entrepreneurs will do nothing to help the business
‘powerhouses’ of the country, said the CBI.
Employers’ bodies reacted coolly to yesterday’s announcement that gains for
entrepreneurs would be taxed at 10% for the first million pounds they make.
CBI director general Richard Lambert said changes to CGT rules were still a tax
hike and would damage the economy.
Martin Temple, chairman of manufacturing body EEF, said the relief was a helpful
concession but its tax policy ‘sent out all the wrong signals’ about its
attitude to business.
The ABI said it would push for the creation of a level playing field for CGT on
investment products such as unit trusts and investment bonds.