Alastair Darling's humiliating climbdown on capital gains tax this week has been criticised as too little, too late for many entrepreneurs who are now either planning to sell their businesses or move operations abroad.
The chancellor had decided to press ahead with plans to raise the capital gains tax to 18 per cent and abolish taper relief from April 6, but bowed to pressure from business lobbyists by offering a 10 per cent rate for lifetime gains up to £1m.
