This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to Keep the CGT taper relief as a major incentive to enterprise. More details
Submitted by Duncan Cheatle of The Supper Club – Deadline to sign up by: 11 April 2008 – Signatures: 18,636
Alistair Darling yesterday, in his pre-Budget speech, proposed abolishing one of the few real incentives to enterprise (CGT taper relief).
Penalising those that take huge personal risk to build tax paying, employment creating businesses because a very few private equity investors pay a low effective rate of tax is very short sighted.
In effect those of us who may look to sell our businesses in the future to those better able to build it further now face almost a doubling in the tax we will have to pay. How can this help encourage enterprise?
If you believe like me that this move will seriously reduce the attractiveness of talented people to set up a business in this country and increase the chance of people selling businesses prematurely to avoid the higher rate and then reinvest not in enterprise but in property (I'm not sure that's going help the property bubble either!) please sign this petition.
Duncan Cheatle Founder, The Supper Club
Because there are so many signatories, only the most recent 500 are shown on this page.
Because there are so many signatories, only the most recent 500 are shown on this page.