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capital gains taxCNBC
•Technology
Technology
80% Informative
Finance Minister Rachel Reeves on Wednesday hiked capital gains tax ( CGT ) and increased the rate of tax applied to an entrepreneurs' relief scheme.
The tax hikes are expected to bring in 2.5 billion .
One tech founder who last week threatened to move to the U.S. over the anticipated tax changes, told CNBC that Wednesday 's announcement was "better than I thought it would be".
Tech entrepreneurs and investors are urging the government to return to its focus on fostering growth and innovation in the U.K. The messages were key to Labour 's election manifesto prior to the landslide win that saw Keir Starmer become prime minister.
"We're already seeing early-stage firms in the UK struggle securing pre-seed and seed funding, with VCs here having a lower risk appetite," says Phil Kwok .
VR Score
86
Informative language
87
Neutral language
61
Article tone
formal
Language
English
Language complexity
57
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
1
Source diversity
1
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