Osborne must show his true colours June 15, 2010 THERE will be plenty of banker-bashing from George Osborne when he delivers his first Mansion House speech to the City tonight. The audience of movers and shakers will barely notice; financiers are used to the abuse by now. Most of the proposals have been well trailed: a new levy on balance sheets (which could raise [...]
BCC backs our CGT campaign June 15, 2010 A LEADING business lobby group yesterday backed City A.M.’s campaign against damaging government proposals to raise capital gains tax (CGT) to levels in line with income tax. The British Chambers of Commerce (BCC) said that business prosperity would suffer if the coalition does not introduce taper relief, indexation or entrepreneurial relief along with the changes, [...]
CGT CAMPAIGN GATHERS PACE June 14, 2010 ANOTHER influential investor body yesterday pledged their support for City A.M.’s campaign against the new government’s planned hikes to capital gains tax (CGT) – proposals this newspaper believes would unfairly punish private investors and derail enterprise and long-term investment in the UK. The Association of Private Client Investment Managers and Stockbrokers (APCIMS) has already written [...]
Time for an inquiry into tax system June 13, 2010 THERE are two conflicting trends right now in British economic policy: one is reassuring and invigorating; the other negative and deeply depressing. Both will help determine how successful and prosperous the UK will be over the next few years. I am increasingly optimistic about the immediate, urgent crisis facing Britain – the desperate need to [...]
Hiking capital gains will just hit aspiration June 13, 2010 CITY A.M. CAMPAIGN LIKE many MPs, I have received an avalanche of letters and emails from angry and perplexed constituents since the rise in capital gains tax was floated. These do not come from the ranks of the super wealthy or short-term City speculators. Instead, my anxious correspondents are predominantly people who have “done the [...]
Business support continues to flood in for CGT campaign June 13, 2010 MORE business leaders have added their voices to the growing body of support behind City A.M.’s campaign against the government’s proposed hikes to capital gains tax (CGT). Ed Wray, the entrepreneur who co-founded Betfair, has backed the campaign, claiming that the planned increases to CGT are likely to be “self-defeating”, discouraging enterprise and investment in [...]
Be discerning about Europe’s banking sector June 13, 2010 THE last two years have been cataclysmic for the global banking sector. Yet most banks managed to stay afloat during the financial crisis and have returned to profitability this year. And after the wave of volatility that hit the markets in recent weeks, banking stocks are beginning to look cheap. But should investors be buying [...]
QCA backs CGT campaign June 10, 2010 THE QUOTED Companies Alliance, the body representing small and mid-cap listed firms in the UK, has thrown its backing behind City A.M.’s campaign against the government’s proposed hikes to capital gains tax (CGT). Tim Ward, the QCA’s chief executive, said alterations to the proposals was the “number one priority” for his organisation, which has argued [...]
Jon Moulton’s Better Capital will raise £67m in LSE listing June 10, 2010 JON Moulton’s Better Capital will raise £67m as it steps up to the main London Stock Exchange market, just six months after listing on Aim. The group hopes to attract more investors attracted by the stricter regulatory stipulations in place for main market-listed firms. It will issue 64.3m new shares at 105p each – a [...]
Watch your kids and their nest eggs grow June 10, 2010 CHILDREN are expensive but they could be about to get even costlier. Yesterday, universities minister David Willetts strongly indicated that university tuition fees will have to rise from their current level of £3,225 a year to reduce the burden on the taxpayer. Those saving to help their children or grandchildren through university will now have [...]