Four in Ten Business Owners Thinking of Leaving UK – Guido Fawkes

Four in Ten Business Owners Thinking of Leaving UK

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A bruising new survey from audit shop S&W has sounded the alarm for Britain’s business climate – 39% of UK entrepreneurs are now considering fleeing abroad thanks to Labour’s relentless assault on enterprise. The firm surveyed 500 business owners turning over £5 million or more and also found:

• 48% say the Autumn budget worsened the prospects for their business.
• 47% say the government’s policies towards business are deterring them from expanding their company.
• 42% say the government’s policies are deterring them from starting another business.
• 45% say increasing capital gains tax rates beyond the levels announced in October would deter them from starting another business. 
• 43% say that if the government introduced plans to restrict IHT reliefs on gifting assets they would more likely consider leaving the UK.

Toby Tallon, tax partner at S&W:

“It’s extremely worrying that many business owners don’t consider the government to be supportive of entrepreneurs. The last Budget worsened the prospects for many business owners and there is a fear about what is to come in the autumn given the need to plug gaps in the Treasury’s spending commitments. Business owners are already feeling the heat from hikes in National Insurance costs which came into effect in April. Business owners are key to driving growth and they need to be given need the confidence to make the long-term decisions that will create jobs.”

Over 4,400 business leaders have already moved overseas in the last year. Labour is killing the golden goose…