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News Release from: Federation of Master Builders (FMB) | Subject: Capital Gains Tax
Edited by the Buildingtalk Editorial
Team on 27 November 2007
U-turn on Capital Gains Tax demands the
FMB
Chancellor is messing around with over 800,000 people who work in construction SMEs says Brian Berry of the Federation of Master Builders.
The Government has got itself into a complete mess of its own making over its proposed changes to Capital Gain Tax and the introduction of a 18% flat rate The Government needs to do more than rethink its proposed increase; it needs to do a complete u-turn, demands the Federation of Master Builders
This article was originally published on Buildingtalk on 6 Nov 2007 at 8.00am (UK)
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FMB demands U-turn on Capital Gains Tax proposal
Federation of Master Builders demands that the Government rethinks its proposed increase in Capital Gains Tax.
Brian Berry, FMB Director of External Affairs says, "The Chancellor's compromise by offering a GBP100,000 in tax relief to businessmen who sell up and retire really fails to understand the real needs of small businesses which need incentives not penalties to operate and succeed in today's competitive economy".
"The Chancellor is messing around with over 800,000 people who work in construction SMEs which helps form the backbone of the British economy and they deserve better".
Berry continued, "The simple fact is that the Government has got itself into a mess about its CGT proposals and would have been better speaking to business first rather than having got itself into the current debacle that we are all now facing.".
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