Global Entrepreneurship Week

November 16, 2009 2:09 PM

It is apparently Global Entrepreneurship Week.  The organisers claim that "[it’s] a worldwide movement of entrepreneurial people, with millions unleashing their enterprising talents and turning their ideas into reality."


The new firms that entrepreneurs build create the vast majority of new jobs, so encouraging them is definitely a good idea.  But, it will take more than a well-meaning week of workshops and receptions. Entrepreneurs take significant risks in starting a new firm and high taxes on the upside if things go well will put many off starting firms in the fist place.

The Government should get into the spirit of Global Entrepreneurship Week and cut high marginal tax rates.  Our research (PDF) shows that the top marginal rate on income earned, saved, invested in a company and then passed on to children will be 92 per cent with the new 50p rate.  Bringing high marginal tax rates down would mean more entrepreneurs to celebrate their global week, and more jobs for the rest of us.

It is apparently Global Entrepreneurship Week.  The organisers claim that "[it’s] a worldwide movement of entrepreneurial people, with millions unleashing their enterprising talents and turning their ideas into reality."


The new firms that entrepreneurs build create the vast majority of new jobs, so encouraging them is definitely a good idea.  But, it will take more than a well-meaning week of workshops and receptions. Entrepreneurs take significant risks in starting a new firm and high taxes on the upside if things go well will put many off starting firms in the fist place.

The Government should get into the spirit of Global Entrepreneurship Week and cut high marginal tax rates.  Our research (PDF) shows that the top marginal rate on income earned, saved, invested in a company and then passed on to children will be 92 per cent with the new 50p rate.  Bringing high marginal tax rates down would mean more entrepreneurs to celebrate their global week, and more jobs for the rest of us.

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