Coalition must listen to City on CGT May 27, 2010 IT is not often that a major City institution is willing to go on the record with its opposition to a key government policy – usually, the big firms hide behind off-the-record briefings or industry lobby groups. So kudos to Fidelity, the fund manager, for yesterday demolishing so eloquently the coalition government’s plan to hammer [...]
Tax hikes and uncertainty to be bad news May 27, 2010 THE new government has wasted no time in swinging the axe on public spending. This week £6bn of cuts were announced. Business organisations are overwhelmingly in favour of the cuts, but what does this mean for entrepreneurs and start-up companies? Everything from government contracts to Regional Development Agencies (RDAs), which provide grants and funding to [...]
Capital gains tax hike a very bad idea May 26, 2010 IT is time for the new government to pause for thought on capital gains tax. John Redwood, the former Tory minister, is right on the money in his article for this newspaper today (see p16): a massive increase in capital gains tax to 40 or even 50 per cent, as envisaged by the government, would [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 26, 2010 FINANCIAL TIMES APPLE, HP AND DELL INVESTIGATE FOXCONN AFTER SPATE OF SUICIDES Apple, Dell and HP, three of the world’s largest IT companies, said yesterday they were investigating working conditions at Foxconn after a series of suicides at the huge factory in southern China where Foxconn makes electronic goods. Nine workers at Foxconn’s Shenzhen plant, [...]
Tories facing revolt over CGT increase May 26, 2010 THE GOVERNMENT is facing a damaging revolt from angry Tory backbenchers over plans to hike capital gains tax (CGT). Simmering dissent among Conservative MPs came to a head yesterday, when former cabinet minister John Redwood wrote an open letter to the Treasury saying it “would send a strange signal if a Lib-Con government decided to [...]
Higher capital gains rates hurt the economy May 26, 2010 THE government has said it wishes to assist a substantial private sector led revival. It needs a policy which allows reasonable freedom for people to invest, encourages those who are responsible and who make provision for their families and their futures, and is fair. I suggest that gains of under one year are taxed as [...]
CITY VIEWS: SHOULD THE GOVERNMENT RAISE CAPITAL GAINS TAX? May 26, 2010 BEN MOHAMOODALLY | ACCENTURE “The government could increase capital gains tax, which would help the revenue stream. But CGT is an awful tax and stops the middle classes from getting rich.” GRAHAM MCCULLEY | CAPITAL ASSET MANAGEMENT “Capital gains tax is currently low, so it is likely to increase. The government could raise taxes across [...]
Lettings showing signs of recovery as rents increase May 26, 2010 ALMOST a third more landlords saw home rental rates rise in the past three months than those who reported falls, signalling a sharp recovery in the residential lettings market, according to the Royal Institution of Chartered Surveyors (RICS). RICS said 30 per cent more of its UK members reported increasing rents in the three months [...]
Avoid a hasty decision about the CGT rate May 26, 2010 THE new Lib-Con coalition didn’t waste any time after the election to show it is serious about lowering the UK’s enormous public debt. And it looks like a hike in capital gains tax (CGT) is on the cards in a bid to raise much-needed revenue. So what does this mean for investors? Individual stocks, contracts [...]
Businesses give a cautious welcome to Lib-Con plans May 25, 2010 BUSINESS leaders gave a cautious thumbs up to the Liberal-Conservative government’s first Queen’s Speech yesterday, but warned that tax rises and a crackdown on airport expansion would hurt the private sector. George Osborne’s decision to reverse most of the rise in employers’ National Insurance contributions won him plaudits across the business community. John Cridland, deputy [...]