Paphitis is no fan of the political elite it seems. In a BBC interview that aired today he blames both Labour and the Conservatives for failing to explain the economic policies they would implement should they be in government in six months’ time. Under parliamentary rules, Gordon Brown must declare an election before the summer and commentators expect the period between now and then to be filled with both sides shadow boxing each other. With few pounds to splash out on incentives and tax increases required to plug the UK’s yawning deficit, neither side can promise much and so have resorted to taking swipes at each other. Paphitis, among others, thinks this should convince many would-be entrepreneurs to delay starting their business until the next government’s economic framework becomes clear. He points out that the brave new world could see increased VAT and other taxes, higher inflation and interest rates – all of which would be a shock to businesses. But worse than this is the uncertainty we currently face, he says. “It’s just temporary,” he tells the Beeb. “I’m saying all entrepreneurs take calculated risks; when you can’t put the calculated in a risk then it becomes a gamble and you don’t want to be there just yet. Take your time.” Related article:Theo Paphitis launches the big business refit
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.