Former enterprise tsar Lord Alan Sugar has launched a stinging attack on the proposed increase in CGT, claiming it will have a "devastating effect" on businesses.
Opening a debate in the House of Lords this morning, Sugar said the planned hike will have a detrimental impact on those setting up and selling businesses and backed the introduction of a taper relief system. The face of television show The Apprentice told the Lords an increase in CGT - as set out by the coalition Government - was "alien" to Tory policy. "But I quickly realised it was the brainchild of the new business secretary and no doubt part of the (coalition Government's) pre-nuptial agreement." He added subsequent "back-peddling" by Prime Minster David Cameron and comments f...
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