15-10-2007
Business groups issue open letter to Darling
News by Adfero for Simply Business - independent providers of business insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Four UK business groups have joined forces in an open letter to the chancellor Alistair Darling, it has been revealed.
Concerned over the recently announced changes to the country's capital gains tax regime, the four business groups have published their letter out of concern for the country's "entrepreneurial culture".
The letter was prepared by the leaders of the Institute of Directors, the Federation of Small Businesses, the Confederation of British Industry and the British Chambers of Commerce.
"The reaction of our memberships has been so universally strong that we have felt it necessary to write collectively to make clear the depth of our shared concern," said the open letter.
Moreover, the four business groups have also requested the chancellor place the capital gains tax reform under suspension and engage in talks, in an effort to address the concerns raised.
The current crisis was caused by a pre-Budget report announcement that the current system of tapered relief would be replaced by a flat rate of 18 per cent.