Government’s Plans Opposed
The tax plans of Britain's new Government are under pressure after John Redwood, the former Conservative Cabinet Minister wrote to Treasury ministers not to go ahead with these proposals. He stressed that these taxes will have a negative impact on the country's reputation and not good for the investment climate. Experts also feel that if these proposals are implemented by the Government, it will lead to a bad precedent.
These measures will have a negative influence on ordinary investors as well as wealthy financiers. Experts feel that implementing these measures will also have a negative impact on the UK economy.
The new Government is also under a lot of pressure due to these measures as they were not in the election manifesto and were announced to please the Liberal Democrats.
It will also make it more difficult to raise long term investment plans. The economy of Europe is already under a lot of pressure due to crisis prevailing in the European Union. Euro prices are also under a lot of pressure due to these factors.
The proposed taxes will also hurt savings and the overall economy, stressed leading economic experts. The Government will make an official announcement in the Budget about these proposals according to a Government spokesman.
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