Last week Lord Sugar expressed his concerns about the Coalition plan to raise CGT from 18% to around 40%.
He explained that he felt confused that the Tories should wish to diminish entrepreneurial motivation, but acknowledged that there is a problem with ‘individuals who manage private equity funds who somehow magically turn their commissions made by creating gains for their clients from normal income into a capital gain.’
It seems as though that the Coalition are struggling to make distinctions between enterprising individuals and tax-dodging schemers. Hopefully George Osborne’s speech tomorrow afternoon will clarify a few things for Rags to Wreckages readers.
Tags: 2010, Alan Sugar, budget, capital gains tax, CGT, deficit, enterprise, entrepreneur
