16th April 2008
Head of the Confederation of British Industry (CBI) Richard Lambert slammed the government as he voiced fears that an economic downturn was approaching for many British enterprises.
In yesterday's speech at the Entrepreneurs' Summit, the director-general warned companies to prepare for "tougher business conditions" that would last for "a year or two".
Mr Lambert claimed the "distinctly chilly" outlook for small companies was in part caused by the effects of the global credit crunch, but he also blamed "ill-considered political decisions", specifically the "clumsy and retrospective changes in the tax system".
In a scathing attack on Chancellor Alistair Darling's decision to change the Capital Gains Tax system, the CBI chief said some entrepreneurs have been forced to sell up, or even take their business abroad to escape the 18% hike.
He also slammed the way the changes were imposed, "without consultation and apparently without a heck of a lot of thought".
Mr Lambert advised that to beat the growing economic pressures, small businesses should "work hard to develop robust business plans and to secure the necessary lines of credit in a world where finance will be harder to come by".
CBI blames Chancellor for "chilly" business climate ahead
In yesterday's speech at the Entrepreneurs' Summit, the director-general warned companies to prepare for "tougher business conditions" that would last for "a year or two".
Mr Lambert claimed the "distinctly chilly" outlook for small companies was in part caused by the effects of the global credit crunch, but he also blamed "ill-considered political decisions", specifically the "clumsy and retrospective changes in the tax system".
In a scathing attack on Chancellor Alistair Darling's decision to change the Capital Gains Tax system, the CBI chief said some entrepreneurs have been forced to sell up, or even take their business abroad to escape the 18% hike.
He also slammed the way the changes were imposed, "without consultation and apparently without a heck of a lot of thought".
Mr Lambert advised that to beat the growing economic pressures, small businesses should "work hard to develop robust business plans and to secure the necessary lines of credit in a world where finance will be harder to come by".
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