Exit Tax
The U.K. government looks like it has rowed back on proposals to introduce an “exit tax” on entrepreneurs leaving the U.K. to avoid any future capital gains tax increases.
Thank god. The policy would have been seriously stupid - and even stupider to brief it in advance so we’ve already lost many companies to so-called “Delaware flips”. Let’s hope they come back.
We need as many entrepreneurs as possible, not to turn them away. I get that people don’t like the idea of billionaires. Nor do I, to be honest - if it’s inherited wealth. But businesses create jobs, and founders create businesses. We should hold founders (only those who pay tax as they should) in the same esteem we hold doctors or teachers or nurses.
All of them are helping building a brighter future for our country - at a time we desperately need some brightness.