|
Uncertainty about whether or not the government will introduce capital gains tax (CGT) changes has led many company directors and entrepreneurs to consider selling their businesses, according to the CBI.
The employers organisation launched a renewed attack on government ministers, saying that the Treasurys delay in making a final decision on the issue has left businesses in a "state of complete confusion".
The reforms to CGT, which will abolish taper relief, were announced last October to much disapproval from business groups and company directors of SMEs.
Following the large level of discontent it provoked from the small business community, the chancellor, Alistair Darling agreed to listen to the grievances of representatives from Britains business community.
He promised on November 27th, that an announcement would be made on the issue within three weeks but so far, nothing has been revealed.
Speaking on BBC Radio 4s Today programme, CBI director-general Richard Lambert, said: "If you have been building up a business over donkeys years and you suddenly face the prospect of a higher tax bill, you have to think now about whether youre going to get out of it. Thats what people are doing.
"[Company directors] are beginning to take decisions that have nothing to do with business or economic common sense. They are doing it because they dont know what their tax liabilities are going to be."
See copyright notice
| Other
Top Business News Stories |
|
Business
News 
