TORY MP Graham Brady has challenged Gordon Brown over the tax problems faced by small businesses.
The Altrincham and Sale West MP got first question in Mr Brown's Commons question time and claimed that decisions he made as Chancellor had piled problems on small firms.
Mr Brady told the PM about a constituent who had been made redundant and started up a small business who was hoping to sell it and put the proceeds into his pension fund.
"But now he has discovered that the government's tax proposals would see his tax bill increasing from £2,520 under the current capital gains tax regime to £9,504 under the new rules," he said.
"The new rules are good news for someone who wants to make a fast buck, but devastating for those who've worked hard to build a business."
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Brady challenges Brown over tax
October 19, 2007
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markyboy (20/10/2007 at 08:51)
under his barmy legislation i have to pay an accountant to work out how much tax etc. i have to pay, but i have to make the payments myself. this on top of working 40 hours plus per week. i am therefore seriously considering ceasing to trade and hey presto gordon puts another company out of business.
bottler brown is a joke, he sat next to phony for 10 years with the same ideas, now he wants us to believe in his new vision? - what a joke.
goodby bottler brown ASAP please.