Show Notes
Is tax policy driving away British business leaders? Hannah Prevett speaks to Castore co-founder Tom Beahon about the future of UK business.
In this bonus episode of The Business, Castore Co-founder Tom Beahon shares his concerns that successful entrepreneurs have little incentive to remain in the UK under current fiscal policy - and what changes he hopes Prime Minister Andy Burnham will deliver.
Founded in 2015 by Tom and his brother Phil, the sportswear company designs bespoke kits for premier football clubs and has become a major player in retail trends. It was last valued at almost £1 billion.
While Beahon has no desire to leave Britain himself, he warns that talented business leaders are choosing international tax havens over building businesses within the UK. He is increasingly concerned that “our best and brightest, our most capable people” are choosing to leave Britain.
“Let's not pretend otherwise,” he says on the show. “That is not good - that doesn't make me happy, I don't think it makes anyone in the entrepreneurial community happy.”
Beahon argues that the government should be asking why successful British businesspeople are moving abroad, rather than criticising them for doing so. He says the UK needs to become a place where people want to, not only to start businesses, but to build and scale them. Beahon believes Burnham should make some difficult decisions on public spending, warning that there is a limit to how much can be taken from those at the top.
If you like this bonus episode, be sure to watch the full interview with Tom Beahon on Times Business, or listen wherever you get your podcasts.
Guest:
Tom Beahon, co-founder of Castore
Presenter:
Hannah Prevett, associate business editor at The Sunday Times
Producer: Hope Federico Video Producer: Bronwen Latham Executive Producers: Emily Leahy and Miriam Hall Photo Credit: Getty Get in touch: [email protected] Hosted on Acast. See acast.com/privacy for more information.
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