Bankruptcies among Swiss companies surged by 16% in the first nine months of the year, totaling 4,475 insolvencies. The automotive industry saw the highest increase at 47%, while the construction sector experienced a 35% decline in bankruptcies. Despite the rise in failures, new company registrations grew by 2%, with the construction sector leading in start-ups at 38%.
The Labour government has announced an increase in capital gains tax (CGT) rates, raising the lower rate to 18% and the higher rate to 24%, while maintaining the £1 million lifetime limit under business asset disposal relief. This has sparked concerns among tech founders about a potential "brain drain," with a survey indicating that 89% of respondents would consider relocating their businesses abroad. Despite the tax hikes, some entrepreneurs feel the government has addressed their main concerns, particularly regarding research and development investment.
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