TaxAdministrationBusiness let down after Brown’s first year in office

Business let down after Brown’s first year in office

Business feels let down after Gordon Brown's first year in office but is yet to be convinced Cameron is the answer

Business is disenchanted with Gordon Brown’s first year in power as anger
smoulders at the government’s tax increases, but is yet to be convinced David
Cameron is the answer.

A survey by the Federation
of Small Businesses
(FSM) of more than 9000 small business owners found an
overwhelming majority of 96% were dissatisfied with the government, the
Financial Times reports.

FSM suggests the broad support from business which Labour once enjoyed,
boosted by a strong economy, was now a historical phenomenon and Brown is judged
to have destroyed that legacy by scrapping the 10% rate of capital gains tax
(CGT).

‘CGT really did fracture relations with business…the government completely
misunderstood what the impact would be,’ David Frost,
British Chambers of
Commerce
director-general, said. Martin Temple, chairman of the EEF
manufacturers’ body, cited the increase in taxation as ‘the one big issue on
which business will judge Gordon Brown’.

Further reading:

Small players will seek their payback

Tax, UK business’ biggest bugbear under Brown

Read
the Financial Times story

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