‘Don’t penalise all those people who create wealth’
ENTREPRENEURS and risk takers who will start and grow businesses need to be recognised and rewarded, said the Institute of Directors (IoD), after the Archbishop of York said those who have accumulated the biggest fortunes should not be included on the Queen’s Honours List.
Margaret Wood, regional chairman for the Yorkshire IoD, also warned that “you have to be very careful about penalising all wealth creators”, adding: “Now, more than ever the country needs entrepreneurs and risk takers who will start and grow businesses.”
Dr John Sentamu made the comments in the Yorkshire Post, where he also called for the Government to introduce a radical overhaul of the tax system. Katja Hall, CBI chief policy director, said: “Payment for failure is unacceptable, but people should be rewarded appropriately for good work, and senior company executives compete in a global jobs market.”