Pick of the press: Wednesday 19 May 2010

Despite George Osborne making corporation tax a priority – he believes it would stop companies fleeing the UK’s tax regime – the CBI says it shouldn’t be. “Just holding steady would be the best thing for now,” says the organisation.

Daily Telegraph – George Osborne set to cut headline corporation tax 

Daily Telegraph – Taxes will be fairer under coalition government, not reduced overall, says Nick Clegg

Financial Times – Corporate tax cuts slip down the agenda


While some senior Tory backbenchers are starting to speak out against the planned CGT rise, the Telegraph’s Damian Reece argues the increase is essential for the UK economy to recover. “Keeping companies here, attracting new ones and creating jobs are more important at this stage than making the buying and selling of assets more profitable than they need to be,” he argues.

Daily Telegraph – Capital gains tax is a pill we must swallow for good of UK economy

The Times – Rolls chief offloads shares to beat CGT increase 

Daily Telegraph – Capital gains tax without indexation is ‘highway robbery’

Daily Telegraph – Tory rebels attack plans to hit savers with CGT increase 


Innovation has always been high on the entrepreneurial agenda. A new poll shows that Britons view the iPhone as the number one most important invention, ahead of the washing machine, the flushing loo and the fridge. Meanwhile, Waitrose has introduced scratch’n’sniff “technology” which allows customers to smell flowers while their petals are still closed. Bloomin’ marvelous, we say. How’s that for innovation?

Daily Telegraph – Britons vote for the iPhone as most important invention ahead of flushing loo and space travel

Daily Telegraph – Scratch’n’sniff flowers on sale in supermarket


In his weekly FT column, serial entrepreneur Luke Johnson argues that you shouldn’t forget that you’re in business for the money. Don’t let yourself get carried away by your emotions.

Financial Times – Luke Johnson: I’m for passion but don’t forget the money

Figures released yesterday showed inflation rose to 3.7 per cent, nearly double the Bank of England’s two per cent estimate, catching many analysts by surprise. This rise could mean that interest rates will rise, while unemployment could also increase. Why are prices rising so quickly?

The Times – The elephant in the room just got bigger

The Independent – Shock rise in inflation risks higher rates and unemployment

Guardian – April inflation hits 3.7% 

Financial Times – BoE chief taken to task


EasyJet chairman Sir Michael Rake escalated the row with Stelios yesterday by writing a letter to easyJet shareholders in which he defended the budget airline’s plans and suggested that Stelios had been part of the decision-making process all along. How will the conflict be resolved?

The Times – EasyJet board hits back at Sir Stelios Haji-Ioannou

Financial Times – Sir Stelios ‘disappoints’ EasyJet chairman


The entrepreneurial family that owns Clarks, the shoe store chain, has received a £17.6m pay slip thanks to the retailer’s success. C&J Clark, 80 per cent owned by the Clark family, saw revenues rise to £1.2bn last year, suggesting the firm is weathering the recession better than its peers.

The Times – Clarks owners walk tall with £17.6m payout

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