From Yahoo Finance: 2025-05-06 06:10:00

Star fund manager Terry Smith is calling for tax cuts and red tape reductions to attract more investors to the UK. He criticizes the lack of quality companies to invest in and emphasizes the need for a change in taxation and regulation policies. Smith has achieved impressive returns of over 336pc in the last decade. Despite market volatility from Trump’s trade war, he remains optimistic about future gains. Smith’s remarks coincide with mounting criticism of Chancellor Rachel Reeves, who recently implemented £36bn tax rises, including higher National Insurance contributions and stamp duty payments. Calls for lower capital gains tax rates have also been made after HMRC data revealed a 10% drop in receipts to £13bn in the past year. The Treasury has not yet commented on the situation.

Read more: Reverse tax rises to make Britain attractive, says star fund manager