The U.K. government faces backlash over proposed changes to capital gains tax that could impact entrepreneurs and tech investors. Media reports suggest Finance Minister Rachel Reeves may announce a hike in capital gains tax, potentially raising the levy on share sales to 39%. Entrepreneurs and investors warn that increasing the capital gains tax could drive talent out of the country, weakening the startup ecosystem. Reeves is expected to reveal fiscal measures on October 30 to close a budget gap, with entrepreneurs urging her to reconsider tax changes that could harm business growth.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The UK government faces backlash over proposed changes to capital gains tax that could impact
00:07entrepreneurs and tech investors. Media reports suggest finance minister Rachel Reeves may
00:12announce a hike in capital gains tax, potentially raising the levy on share sales to 39%.
00:18Entrepreneurs and investors warn that increasing the capital gains tax could drive talent out of
00:23the country, weakening the startup ecosystems. Reeves is expected to reveal fiscal measures on
00:29October 30th to close a budget gap with entrepreneurs urging her to reconsider
00:33tax changes that could harm business growth. For all things money, visit Benzinga.com slash GSTV.