Hike in capital gains tax will spark tech exodus from UK, investor says

Harry Stebbings says tax rules make Britain ‘a bad place to do business’ as he warns of entrepreneurs leaving

Tech entrepreneurs will leave the UK “en masse” if the chancellor announces a significant increase in capital gains tax at this month’s budget, according to a leading industry investor.

Harry Stebbings, a British podcaster turned investor who raised a $400m (£310m) fund this week, said the UK was “a bad place to do business” because of its tax environment.