Businesses in the City have lost sympathy for the current Labour government, after last year’s Budget left people feeling that Britain was “not a very enterprising place”, ex-chancellor George Osborne said.
At a panel session hosted by Evelyn Partners on Tuesday (30 September) looking ahead to the Autumn Budget, Osborne said multiple tax changes brought in by Chancellor Rachel Reeves – such as increasing capital gains tax (CGT), adding VAT to private school fees and bringing unused pension funds into the scope of inheritance tax – are very anti-enterprise. This is one of the biggest problems the chancellor faces, explained Osborne, as Reeves stares down arguments on multiple fronts. "A year ago, quite a lot of businesses here in the City of London… [had] quite a lot of sympathy for a ne...
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