19 Jun 2026Over 90 MPs have warned Chancellor Rachel Reeves that the UK tax system doesn't support Britain's entrepreneurs. A letter to the Chancellor stresses that the 'relentless creep' of taxes on entrepreneurs should be halted. MPs warn that entrepreneurs are 'increasingly being given a reason to set up companies elsewhere'. The letter warns that rises in National Insurance (NI) and Capital Gains Tax (CGT) on dividends, combined with the paring back of Business Asset Disposal Relief (BADR) and Business Property Relief (BPR) create cumulative damage for entrepreneurs. According to the authors of the letter, just four in ten UK businesses reach their fifth birthday, and only 1,400 sold for more than £1 million in 2024. The letter states: 'We believe Britain remains one of the most entrepreneurial and dynamic countries on Earth. Act now, and the government can still keep its promise and its scale-up founders. Fail, and Britain will continue training entrepreneurs for export.'