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Flight attacks Government over entrepreneurs

Former Conservative Shadow Treasury chief secretary Howard Flight has criticised the Government for pushing entrepreneurs out of the country.

Speaking at the Enterprise Investment Scheme Association awards last week at the House of Commons, Flight said overspending and increased taxation have resulted in lower productivity growth for the British economy. He said it is entrepreneurs who have kept the economy afloat.

Flight, who chairs the Eisa, said: “Large publicly-quoted companies are constrained by the growing volume of regulation and corporate governance requirements. Not surprisingly, it has been the pri-vate equity sector to which much of the entrepreneurial talent in the UK has migrated.

“More than half the jobs in the private sector are now provided by small and medium-sized businesses and enterprise investment schemes have served to attract 12bn of funding to thousands of new businesses.”

Keynote speaker and Alchemy Partners managing partner and founder Jon Moulton criticised Chancellor Alistair Darling’s plans to introduce an 18 per cent flat-rate capital gains tax and remove taper relief. He suggested that a 10 per cent flat rate would be more appropriate.

He said: “At a time when the economy is heavily reliant on business entrepreneurs to take risk, the Government has massively disincentivised investors with ill-thought-out changesto capital gains tax.”


Man looks to repeat Stratum success

Man Investments has brought out a capital-protected fund of hedge funds that is designed to achieve returns above 10 per cent both in rising and falling markets.

Share and share alike

This week New Star made a huge judgement call on the troubled UK property market taking the decision to make a multi-million pound investment in property shares within its £1.5bn UK property fund.

McCarthy plays down effects of his departure

Sir Callum McCarthy says his departure this year from the FSA will not herald a change in policy direction from the regulator.Speaking last week at the Cass Business School in London, the FSA chairman said that a change in senior personnel would once have caused uncertainty in the industry but not any more.McCarthy said: “When […]

Running Buffett

Last week was eventful for me – and not just because of Warren Buffett’s offer of help to the monoline insurers. Now, there is a man who can move markets with the briefest of utterances. The billions of pounds he added to the value of securities markets worldwide by making an offer that, on reflection, was not over-generous was quite remarkable.

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]


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