SMEs will struggle further under Labour’s tax policy, a report commissioned
by the Tories will warn.
The report to be published next month by the
European School of
Management will show a fall in the number of small businesses,
fewer reaching a £1m turnover and fewer business with a turnover of £7m+ five
years after setup, over the past ten years.
Professor Davide Sola, the report’s author and dean of the school, told the
Independent
on Sunday that the tax system for small businesses the UK had
become less competitive and changes to CGT would ‘further undermine’ its
attractiveness.
‘The implications for investment and job creation could be very damaging,’ he
said.
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