The head of the CBI has warned against a
knee-jerk reaction to demands for increased taxation of private equity returns,
but said an effective tax system needed to be seen to be fair.
Richard Lambert, director-general of the employers’ organisation, added that
while the issue of non-domicile tax status needed to be looked at carefully, he
feared entrepreneurs could be driven out of London into the arms of New York,
Speaking at a conference in London yesterday, Lambert said the new capitalism
of hedge funds and private equity ‘is adding to the general sense of insecurity
and unfairness that is already a consequence of global trade and technology.’
He added: ‘A big question is whether and how this concentration of wealth and
income will play into democratic politics.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states