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 [...]
Looming hike in capital gains tax is fuelling investor panic May 23, 2010 HIGH-EARNING investors are rushing to sell off assets that will attract Capital Gains Tax (CGT) before next month’s emergency Budget due to indications that CGT rates could shoot up from 18 per cent to as much as 50 per cent. Gains on non-business assets now look set to be taxed in line – or close [...]
HOW THE AGREEMENT AFFECTS THE CITY May 20, 2010 BANKING • The coalition has agreed to impose some kind of levy on the banking industry, although its exact form has yet to be decided. The Tories want to introduce a fee on banks’ wholesale funding, while the Liberal Democrats would prefer a tax on profits. • There is a vague commitment to tackle “unacceptable [...]
MAN FROM THE PRU IN SPOT OF PULP FRICTION May 20, 2010 SEASONED investors will be familiar with the mountain of paperwork that traditionally accompanies any City deal, but it does rather take the biscuit when recipients are actually forced to order waste-disposal skips in order to get the documents off their hands. Yet this, ladies and gents, is the position which stockbroker Charles Stanley finds itself, [...]