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| Support | 0208 045 4944 | 0800 230 0032 |
21 October 2009 | |
 MEN asked six prominent north west business people what they would do to encourage growth in the regional economy. Lawrence Jones - Founder of Manchester-based Internet company UKFast - Manchester Evening News Business of the Year 2008. "Last year capital gains tax increase did a great deal to damage the economy. Entrepreneurs enjoy doing deals, penalising them is counter-productive. "As an entrepreneur myself, I know it is difficult to become incredibly wealthy whilst running your business. Most people's wealth comes when they sell their company or share within it. "The lawyers will remember the flood of businesses trying to complete prior to the deadline. Is it coincidence less people wanted to sell after? "Obviously, the economy hasn't helped. However, reducing this stealth tax back to 10 per cent will kick-start a great many acquisitions which, in turn, breathes life into our great country. "It also stops or inhibits talk of moving offshore when you do sell, a practice that leaves the country with nothing. In turn, the government will make a great deal more money." | |