Labour Conference 2011: Tax 'bad' businesses more

Laura Miller
clock

Private equity firms and businesses deemed to be "asset strippers" will face higher taxes under a Labour government, Ed Miliband will warn today, under plans to judge firms on how they make money.

Miliband will tell the party's annual conference that the days when all businesses are taxed and regulated equally should be over, according to the Telegraph. Firms deemed to be behaving responsibly and which contribute to society will be offered financial incentives by the government, he will say, while "asset strippers" will face higher taxes. According to Labour sources, Miliband regards companies such as Southern Cross, the nursing home operator run by private equity investors that is in the process of being wound down, as exemplifying the wrong sort of business. It was accused...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax Planning

Advisers face surge in demand as more deaths set to trigger IHT charge

Advisers face surge in demand as more deaths set to trigger IHT charge

Proportion of deaths subject to IHT will rise from 5.1% to 9.5% by 2029/30

Isabel Baxter
clock 14 November 2024 • 2 min read
Evelyn Partners CEO Geddes warns of 'stifling' CGT change impact

Evelyn Partners CEO Geddes warns of 'stifling' CGT change impact

Paul Geddes urges for caution on tax changes

Jen Frost
clock 18 October 2024 • 2 min read
Demand for IHT mitigation increases as more fall into threshold

Demand for IHT mitigation increases as more fall into threshold

‘Asset prices and nil rate band freezes are creating a perfect storm’

Isabel Baxter
clock 03 April 2024 • 1 min read