Dear Keir Starmer, The best entrepreneurs were already leaving or considering leaving. Scrapping entrepreneurs' relief without a replacement just speeds that up. We need to make the UK the best place to start and scale an AI company to return to growth. This is an own goal. It sends the wrong message. Please don't do it! "Starmer earlier insisted the Budget would not drive entrepreneurs abroad because of the anticipated tax rises on businesses and the wealthy."
Mark Hurren
3w
You picked on an element that also niggled at me from recent interviews with Keir. "working people" doesn't include a company director, it seems. keir thinks every company owner is Elon Musk, the reality is many of the SME owners in the UK are working their backsides off for an hourly rate that is less than the minimum wage but they are not 'working'. 4 more years of this BS is enough to make anyone quit the UK.
As Starmer has reminded us on many occasions, his father was a tool maker. No argument here...
This whole government approach to taxation seems to be "F them they can afford it" They are purely looking at what wealth people have rather than what they do with it. Those say rich people build businesses and invest in their communities.
Unfortunately this team of labour politicians lack insight into exactly what it takes to get a new business off the ground. Were they a little better informed they might think differently.
I can see what he’s trying to achieve, but I don’t think beating people up who employ others is the way to go about it. Doesn’t matter who you are or what you do “encouraging” and “rewarding” works. If planning to take things away, then better to replace it with something else. Wanting to start a business and actually doing it are two very different things. The latter are the minority. That keep the former employed. Encourage the latter that sustains the former.
As many others have said, a slow motion car crash happening before our very eyes. All this tells me is woe betide any 'working person' who works too hard, or - heaven forbid - decide to set up their own business.
Anjan Luthra
2w
As someone building an AI-powered SEO agency, it’s clear the UK is not positioned to be the best place to start and scale an AI company right now. Scrapping Entrepreneurs' Relief and raising taxes might seem like short-term solutions, but they come at a long-term cost. We’re already seeing top UK founders relocate—just look at Revolut’s founder. That one move alone could mean a loss of over £1 billion in future tax revenue. Meanwhile, Dubai is doubling down on attracting businesses. Just this week, they approved the largest budget in their history, projecting a revenue of Dh302 billion and a 21% operating surplus by 2027. That's a pro-business environment in action. For those of us in AI, tech, and digital growth sectors, it’s hard not to notice the contrast. If the UK wants to see growth, it needs to support the people driving it forward.
People working in small businesses who draw salaries through dividends based on the profitability of their business are t working people either. Obviously Labour doesn’t understand how many people draw earnings from their business
Chad West
3w
Just don’t sell anything in the next few years. These incompetent clowns will be a one term government.
Product @ Lemonade
2wWhere are the entrepreneurs going?