15 Mar, 2017
Hammond's U-turn demonstrates an out of touch govt, but is a golden opportunity
Budget U-turn should be welcomed but it shows how out of touch the
government is, affirms the boss of one of the world's largest
independent financial advisory organisations.
deVere Group CEO,
Nigel Green, is speaking out after the UK's Chancellor drops plans to
increase the taxes paid by the self-employed.
Mr Green comments:
"This is a stunning u-turn by the Chancellor, just a week since his
Budget. Whilst we welcome this climbdown, it does show just how out of
touch this government is with Britain's hardworking, already-squeezed
and over-taxed entrepreneurs – the lifeblood of the UK economy."
continues: "Hiking taxes on the self-employed would have only served to
punish ambition and undermine aspiration to get on in life.
grinding u-turn is now a golden opportunity for this government to go
one step further and better incentivize those self-reliant individuals
who take on the responsibility, risk and burden of setting up companies
and creating jobs and wealth. This is perhaps more important than ever
as Britain prepares to launch divorce proceedings from the EU.
"Surely, if the UK is to thrive outside the EU, it should be aiming to keep and attract more entrepreneurial self-starters."
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