“I think the [private equity] industry will look at sound investments and I don’t see any reason why it shouldn’t continue to invest in the sector,” Parker said Wednesday.
Private equity companies have come under increased scrutiny because of the level of tax paid both by the companies on buyout deals and by directors, leading U.K. Chancellor of the Exchequer Alistair Darling to implement an 18 percent rate for all types of companies.
Previously, under so-called "taper relief" rules, dealmakers paid tax as low as 10 percent on their profits, in contrast to 40 percent income tax for other higher earners.
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Young's: Seafood still a good bet for private equity
Private equity firms will not be discouraged from investing in the United Kingdom seafood sector, following changes in tax rules announced by the government on Tuesday, said Young’s Seafood Deputy CEO Mike Parker.
11 October 2007 13:28 GMT
Updated
9 May 2016 17:58 GMT
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