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[Re: Osborne’s employment incentives idea is no game changer, Tuesday]
If the purpose of the idea is to give workers a vested interest in the business, with the carrot of not paying capital gains tax on any profit that those shares make, then there are already existing schemes in operation such as the Executive Management Incentive scheme. And what of the charge to income tax, and national insurance; will these disappear? They were not mentioned by the chancellor. As a one size fits all proposal for “one nation” it is sadly lacking. The proposal could more accurately be described as dividing rather than uniting the nation.
Phiip Henson, partner and joint head of employment law at DKLM LLP
Enterprise matters. Start-ups that scale up are the lifeblood of a modern economy. Launching a successful business, however, is no mean feat and high-impact entrepreneurs are still too rare a breed. The chancellor’s announcement yesterday is a welcome step forward. New employee owners will be able to exchange some of their employment rights for company shares, free of capital gains tax (CGT). We need greater flexibility for employers and employees and action on CGT on shares; this is an imaginative approach that hits elements of both. We need to do everything we can to help our start-ups to scale up.
Chris Yiu, head of the digital government unit at Policy Exchange
The popularity of Boris Johnson illustrates how UK politics has become reduced to a mixture of Big Brother and the X Factor.
Obama projected a 2012 budget deficit of $557bn. It is actually double that at $1.1 trillion. We can’t afford four more years.
Poor Angela Merkel. We’ve all been to the Mediterranean and bought a souvenir we wish we hadn’t. She bought the entire Mediterranean.
I applied to the Bank of England. I listed my main aim as privatising it. You never know!