Opinion

Published

Labour’s economic idiocy

2 Mins

As I said in The Sun last week, his idea that there can be “good” and “bad” businesses, and that companies should be taxed according to some formula dreamed up by those two great non-entrepreneurs, Balls and Miliband, is just plain stupid. Surely business is business. As long as it’s not doing something underhand or even illegal, it can only be good business. 

Creating an “anti-investment” business policy could only be Red Ed’s attempt to appeal to his union backers.

It’s just more proof that the Labour Party under Ed Miliband has failed to understand even the basics of what’s going on. 

These sort of crazy ideas will give us little or no chance of getting out of the economic mire we are in.

Investment is at the heart of all business ventures, and to crush investment through the tax system is the most ridiculous, anti-business policy I have ever heard.

Investors should not be penalised through higher taxes for their financial patronage of entrepreneurs.

This “Dragons’ Den” tax would be disastrous for companies, which have ambitions and workable plans to grow their businesses but do not have the finances to do it without outside support. 

This is nothing but a desperate attempt by Labour to appeal to the extreme left by demonising honest UK entrepreneurism. It’s economic idiocy that would lead to hundreds of thousands more workers hitting the dole queues.

Charlie Mullins launched Pimlico Plumbers in 1979 with just a bag of tools and an old van bought at auction. The company now has more than 133 professional plumbers, 35 support staff and a £15m turnover.

Share this story

Future 50: Vote for your favourite firm
The poetry of entrepreneurship
Send this to a friend