Clumsy cynical attack on entrepreneurs by George Osborne

Three weeks after the recent budget I still can't believe two particular measures proposed by chancellor George Osborne.

The first one is the tax on dividends which to my mind is an attack on the very people who are heavily responsible for getting this country out of its problems

No - not George and his government cronies stuck in their Ivory towers, but entrepreneurs

Business owners , especially small business owners (SMEs) , are the ones who take the risks to be self employed , to borrow from the bank against security pledged against their own homes, who then create the employment which generates PAYE and VAT on the employees spending , and now the government are attacking those very people who vote dividends for themselves out of the profits they generate

This is not investment income in its purest sense but is instead profits on which corporation tax has already been charged

This is in my mind a disgraceful attack on our brave entrepreneurs who reward ourselves with dividends if they make  a profit.

We are the people who will have voted for the conservatives in the hope that businesses will have less interference from government, who need to get out of our way, as we create more jobs.

Let us generate more employment .

If every small business were to employ one new employee in the next year  this will generate more tax through PAYE and VAT than this cynical attack on our dividends which are our justified reward for making a profit

Wake up George and look after the hands that feed you !

The second measure has apparently been encouraged by the Bank of England who warn of a potential bubble in the buy to let market.

Our chancellor has restricted mortgage relief on Buy to Let Properties! Brilliant!

First I dispute there is any bubble because it is not easy to get mortgages because of the measures already introduced by the Bank of England .

The only bubble in housing has been in London and that has been mainly as a result of outside investors . This has cooled dramatically with the Russian sanctions and the Chinese economic uncertainty

Secondly if you want to prevent a bubble happening you don't go and penalise those who already have mortgages - no you create a charge to discourage new mortgages being taken out for buy to lets

These measures will potentially cripple many investors who have taken responsibility to invest and to provide for their future rather than relying on the state , as well as to provide much needed accommodation that is so badly needed .

Again these investors are likely to have voted for the conservatives and this measure will be a cruel kick in the teeth which might well be a factor that could cause a housing price crash . If this happens, because housing is one of the factors that give entrepreneurs a feeling of security and certainty, it could back fire badly in the business world with reduced investment and employment, as well as reduced confidence by banks to lend.

Will the rich who have no mortgages suffer? Will they hell!

A clumsy measure George which might backfire badly and needs to be urgently reconsidered.

By all means discourage interest only mortgages but don't penalise those who have had the courage to borrow to buy property who will not be able to afford the tax charge levied on the disallowed proportion of mortgages

Shocking decision making by Grandiose George and his treasury cronies , and investors and business people need to speak up in my opinion and make those MPs in marginal constituencies aware of their feelings

Let's persuade George to listen and avoid any cynical arrogance in attacking this country's wealth creators

Let's get the small people to speak louder and get the government to listen. There is no effective opposition, so it is important business people speak up before George causes a needless catastrophe in the property market

Mike Ogilvie

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