Entrepreneurs are the lifeblood of Britain. If the Labour Party wants to support innovation and growth, they must realise that increasing capital gains tax could stifle the very spirit that drives our economy.
Founders take on significant risks to create jobs and drive progress, penalising them could discourage the next generation of innovators.
Many entrepreneurs are already mobile and have relocated to places like Portugal, which boasts a vibrant tech community. Ignoring the impact of Capital Gains Tax would be naive. Entrepreneurs, particularly those who’ve been growing their companies for over a decade, may choose to move abroad to avoid these taxes.
Such short-sightedness could significantly reduce tax revenue and harm the future of entrepreneurship in Britain.
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