Leading business experts blast Nick Clegg on tax plans which will hit entrepreneurs hardest

Young Enterprise Business Advisor, award-winning entrepreneur and Business Matters columnist, Mindy Gibbins-Klein has joined a growing band of some of the countries leading entrepreneurs and business owners in speaking out against the proposed tax system changes.

They warn that the impact such plans may have on the UK’s wealth creators and thought leaders, and the subsequent damage a move like this could do to the economy in the long run.

“Nick Clegg seems to think that a wealth tax will solve today’s economic issues, but it will not” says Gibbins-Klein, “It will take so long to agree and implement that the economy could be looking very different before it comes into force.

“The minister is missing the main point, which is that the system, the economy and society as a whole have already changed beyond all recognition therefore such plans would only serve to inflict further damage.”

Mindy is urging young people to consider their options fully, and to diversify where necessary to avoid finding themselves suddenly cast adrift.

She asserts, “More and more people are taking their destiny into their own hands. It is important that they consider all options and act to control their own future, and not have the government step in with inadequate measures”.

Adding an extra layer to this, figures from the Centre for Economic and Social Inclusion released today reveal that employment confidence in the younger generation is set to dip, with tens of thousands of university and college graduates lacking a role despite their qualification.

Indeed for one course there were a shocking 76,000 more graduates than there were vacancies within the industry – leaving nearly 95,000 young specialists fighting for just 18,000 available roles within their field.

Gibbins-Klein adds, “Entrepreneurship is the only real solution for people who feel a victim of the system, the economy or the government. It’s clear from these new figures that today’s group of unemployed graduates will only continue to grow. And this growth will continue to put pressure on the benefits system, and no amount of wealth tax could even begin to keep up with that.

“The irony of this entire situation is that entrepreneurship is still not recognised as a real path, not taught at the overcrowded university courses and not acknowledged for its role in creating financial independence and minimising the drain on public resources”.

Gibbins-Klein was joined in her condemnation of these plans by Richard Alvin, Group Managing Director of Capital Business Media (owners of Business Matters), a local StartUp Champion with the government supported StartUp Britain scheme. Alvin has also created The Capital Business Media Foundation to help those from disadvantaged backgrounds start their own business providing them with funding opportunities, support and mentoring.

He commented:” These plans as proposed by Nick Clegg, as we currently understand them, appear to be totally contradictory to the scheme he is endorsing with coalition partners to focus on entrepreneurship and the creation of new start up businesses. Great steps have been taken over the past year to help and assist young people to see starting their own business as a real and credible option to falling into the benefit system. It is crucial for the benefit of all that this so called wealth tax, especially not one based on asset values, is allowed to be passed in its current form.”


Paul Jones

Editor of Business Matters, the UKs largest business magazine, and head of Capital Business Media's automotive division working for clients such as Aston Martin and Infiniti.


Editor of Business Matters, the UKs largest business magazine, and head of Capital Business Media's automotive division working for clients such as Aston Martin and Infiniti.