BusinessPeople In BusinessEntrepreneur baffled by higher tax policy

Entrepreneur baffled by higher tax policy

Lord Bilimoria criticises Darling's tax proposals

A leading UK entrepreneur has warned against the government imposing higher
tax rates on the wealthy, a move he believes could set the country back 20
years.

Lord Bilimoria, chairman of Cobra Beer, said the planned 50% income tax rate
outlined by Chancellor Alistair Darling in last week’s Budget was ‘completely
ill thought-out’, according to
ft.com

‘It is a stealth tax, helping to make the UK one of the highest tax nations.
It is the start of a downward, slippery slope which might take this country back
to being the sick man of Europe,’ he said.

Higher national insurance contributions, along with changes to both capital
gains tax and non-domiciled taxpayers were adding to the economic decline, he
said.

Further Reading:

The
Chancellor’s Budget and his optimistic projections

Budget
09: business dismisses ‘trivial’ Budget

Related Articles

Shortlist announced for British Accountancy Awards 2017

Accounting Firms Shortlist announced for British Accountancy Awards 2017

4m Emma Smith, Managing Editor
Pimlico Plumbers to take employment case appeal to Supreme Court

Legal Pimlico Plumbers to take employment case appeal to Supreme Court

4m Alia Shoaib, Reporter
HMRC appoints new director generals

HMRC HMRC appoints new director generals

5m Alia Shoaib, Reporter
Submit your entry for the British Accountancy Awards!

People Business Submit your entry for the British Accountancy Awards!

6m Emma Smith, Managing Editor
BDO appoints two non-executive directors as advisers to leadership team

Accounting Firms BDO appoints two non-executive directors as advisers to leadership team

6m Emma Smith, Managing Editor
Ex-HMRC chief to join ICAS council

HMRC Ex-HMRC chief to join ICAS council

8m Emma Smith, Managing Editor
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Settlement reached between Margaret May and CIMA

Accounting Standards Settlement reached between Margaret May and CIMA

11m Stephanie Wix, Writer