Osborne hints at truly radical change June 8, 2010 IT was not exactly the most convincing of public relation stunts – and predictably enough, George Osborne’s pledge yesterday to engage the public in consultations on the upcoming spending review in a way which would “strengthen and unite” the country was met with some derision. It is hard to imagine that anybody who works in [...]
Stockbroking chiefs back CGT campaign June 8, 2010 THE CHIEFTAINS of some of the City’s most successful independent stockbrokers have thrown their support behind City A.M.’s campaign against the coalition government’s proposed hikes to capital gains tax (CGT). Yesterday, Charles Stanley chairman and ex-Lord Mayor of London Sir David Howard said he applauded the campaign, claiming that it would be an “astonishing” move [...]
London dealers struggle to meet gold coin demand June 8, 2010 LONDON bullion dealers are struggling to source enough gold sovereign and Britannia coins to keep up with surging demand ahead of an expected hike in capital gains tax (CGT) in the new government’s emergency budget on 22 June. Dealers are reporting a backlog of orders for bullion coins recognised as UK legal tender, which are [...]
Why the IoD backs City A.M.’s CGT campaign June 7, 2010 THE Institute of Directors (IoD) is against any proposal which raises Capital Gains Tax (CGT) to income tax levels and is delighted to support CityA.M.’s campaign. Our reasons are straightforward. Like City A.M. we believe the proposal would hit thousands of ordinary employees and investors vital to business investment and economic growth. Of course, ideally [...]
Vodafone appeals again over capital gains tax on its Indian acquisition June 7, 2010 BRITISH mobile phone operator Vodafone yesterday filed an appeal against the Indian tax department’s latest court order over its purchase of a local mobile phone company. Vodafone bought a majority stake in Hutchison Essar for $11.2bn (£7.7bn) in 2007. It contends that the sale did not take place on Indian soil, as it acquired the [...]
G20’s failure was all too predictable June 6, 2010 IT is funny how quickly moods change. It was not that long ago that the G20, courtesy of Gordon Brown’s spin machine, was being hailed as a quasi-mythical authority that was about to solve all of the world’s economic problems. There would be a new era of enlightened global coordination, we were told – in [...]
Entrepreneurs back our campaign on CGT hike June 6, 2010 TWO of Britain’s most recognisable entrepreneurs have thrown their weight behind City A.M.’s campaign against plans to hike capital gains tax (CGT). Julie Meyer, the founder of First Tuesday, chief executive of Ariadne Capital and City A.M. columnist, added her name to the growing list of supporters, as did Shaf Rasul, the founder of E-net [...]
UK must learn from Australia’s error June 3, 2010 IT is not just Britain that is about to shoot itself in the foot with a crippling and destructive tax hike on investors. In our case, it is capital gains that are being targeted; in Australia’s case, however, it is the mining industry that is the being subjected to a weird experiment in irrationality. It [...]
Think-tank: CGT hike won’t make tax fair June 3, 2010 A LEADING economic think tank has rubbished the coalition government’s claims that proposals to alter capital gains tax (CGT) would improve the fairness of the UK’s tax policy. Business secretary Vince Cable yesterday told the Commons that the reforms would “lift very large numbers of low-earners out of tax” and “make the tax system fairer”. [...]
Modest gains for house prices June 3, 2010 HOUSE prices rose just 0.5 per cent in May on the previous month, indicating that after a sharp recovery, the UK property market is finally starting to level off. The latest monthly figures from mortgage lender Nationwide revealed that house prices are now up 12.2 per cent from their trough last February and are less [...]