Speaking to Kate Palmer, Wol warned that we could be about to cut off big trading partners. He pointed out the role of the UK’s small businesses after the last recession, and the importance of their contribution to the economy in the current uncertain climate.
Wol proposed a simple solution to help these firms: axe capital gains tax for SMEs. “I just don’t understand it – it is completely made-up,” he says. “It acts against entrepreneurial behaviour, and in the worst cases encourages gaming the system and going offshore.”
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