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Raising Capital Gains Tax Will 'devastate' Entrepreneurs, Warns Sir Alan Sugar

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But of course. Let's have a petition to save all those BTL entrepreneurs.

And I ask, when will the government thank BTL entrepreneurs and the bankers on behalf of the nation for leading us to a new age of joyful risk-free speculation for all.

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Guest sillybear2

Sugar is mainly involved in property speculation these days, it's more profitable than flogging electronics tat, I can't see what's so entrepreneurial about rent seeking.

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Sugar's no longer an entrepreneur, he's now an (allegedly) over leveraged property speculator.

I think Lord Alan (I prefer to call him just Alan) is one we'd all like to see on his ****.

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Sir Alan Cn ut, what a idiot. You've already said it all.

CGT matters very little for most entrepreneurs. Entrepreneurialism is about generating income, not making a living out of capital gains.

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He would say that when most of his wealth is tied up in property. Since his fortune was made during much higher CGT rates under Labour, you know why he says what he now does. He was all but bust until Sky gave him the contract to make the sky boxes. Other than that hiscomputer brands were over with and losing money. Lucky he knew Rupert Murdoch. Then he has funnelled all the money into property in prime spots of London which has, of course, gone marvellously since the early 90's, making him look rather more clever than really it was. He is smart and I could not have done it, but let's keep a little perspective.

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Sir Alan Cn ut, what a idiot. You've already said it all.

CGT matters very little for most entrepreneurs. Entrepreneurialism is about generating income, not making a living out of capital gains.

exactly. Also hasn't it been made clear that entrepreneurs would be granted generous concessions.

I always new he was fucking prat!

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"Lord Sugar, who was the previous Government's enterprise champion, said an across-the-board rise in capital gains tax would 'depress' the desire of people to work hard.

"

Rather than the generation of people (on averagish salaries) who have been denied the aspiration of owning their own homes thanks to homes being treated as little more than get rich quick schemes by speculators. The CGT on residential property bought as an investment should be far higher than even what they are suggesting then maybe these 'entrepreneurs' will focus their energies on 'real' wealth creation.

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<br />He would say that when most of his wealth is tied up in property. Since his fortune was made during much higher CGT rates under Labour, you know why he says what he now does. He was all but bust until Sky gave him the contract to make the sky boxes. Other than that hiscomputer brands were over with and losing money. Lucky he knew Rupert Murdoch. Then he has funnelled all the money into property in prime spots of London which has, of course, gone marvellously since the early 90's, making him look rather more clever than really it was. He<b> is</b> smart and I could not have done it, but let's keep a little perspective.<br />
<br /><br /><br />

You call it "smart" but once you get to a certain 'level' of elite - you get nods and hear whispers of where to invest next thru their embezzlement grapevine (in the 'gentlemens' clubs!)

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I think that he is compltely wrong, especially in High Tech.

Most people who want to become a high tec start up do it because they want to control their own destiny. Few of them do it in the expectation of mamking mega bucks

tim

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Raising capital gains tax will 'devastate' entrepreneurs, warns Sir Alan Sugar

Strange. Is it only me that missed noticing the corresponding "boom" in "enterprise" which clearly must have been generated by the drop to 18% two years ago then, isn't it? Or is this more BS propaganda from the Rich Party, I wonder?

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Not got to worry about start-ups. There won't be many, they won't be going beyond doing the first quick check on the cost of premises to even start and quickly decide not to bother.

Keeping CGT breaks to keep property high and the landscum sweet is actually totally counter to having a vibrant economy.

Edited by OnlyMe

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Guest sillybear2

I think that he is compltely wrong, especially in High Tech.

Most people who want to become a high tec start up do it because they want to control their own destiny. Few of them do it in the expectation of mamking mega bucks

tim

Venture Capital Trusts exist for that very reason anyway.

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Perhaps someone should inform "Sralan" that there's a separate "entrepreneur's relief" that means a real entrepreneur, with a proper business, only pays 10% CGT on the first £2 million! (doubled from £1 million in the last budget).

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They appear to not be adding comments to that article. Mind posted hours ago has not appeared and it has been on 8 comments for about 3 hours now.

Neither mine, just flagged the correct comments thats all we can do at the mo. I guess they closed it deliberately to avoid the conflicting comments appearing.

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Not got to worry about start-ups. There won't be many, they won't be going beyond doing the first quick check on the cost of premises to even start and quickly decide not to bother.

Keeping CGT breaks to keep property high and the landscum sweet is actually totally counter to having a vibrant economy.

Most of the squealing, article writing and lobbying is coming from landscum (of which SurAlan commander in chief) and those that decided to diddle the system by claiming capital gains rather than income tax.

Notice how landscum has become completely detached from reality as the UK turns into a rentier state. A mate of mine rents an arch in London and British Rail Property Scum are looking for rent increases this year.

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The odd thing for me is that no one brings up the 'Class issue' when a Labour supporter like Sugar brings this up, if he was a Tory it would be 'bloody Tories....class divide.....' blah blah.

This is all about his vested interest,

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Did my bit: rated comments, added one of my own.

It's getting a bit sad to see the Wail/Torygraph write article after article about CGT, and the reader's comments invariably totally opposite to the paper's line.

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Venture Capital Trusts exist for that very reason anyway.

I agree that the funders expect large returns, but they are the leaches who use accounting contrivances to turn income into capital at which the 40% CFT is aimed.

tim

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  • 219 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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