‘Too much tax, too much regulation’: Fintech chief sounds alarm on UK economy and IPO market

cityam07-07

The boss of one of the UK’s fastest-growing fintech unicorns has warned the country risks “putting founders off” with overregulation and heavy taxation as speculation rises that the Labour government ...

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regulation’: Fintech chief sounds alarm on UK economy and IPO market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-07 12:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/too-much-tax-too-much-regulation-fintech-chief-sounds-alarm-on-uk-economy-and-ipo-market/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The boss of one of the UK’s fastest-growing fintech unicorns has warned the country risks “putting founders off” with overregulation and heavy taxation as speculation rises that the Labour government ...</p>\n\n<a href=\"https://www.cityam.com/too-much-tax-too-much-regulation-fintech-chief-sounds-alarm-on-uk-economy-and-ipo-market/\">Source 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and heavy taxation as speculation rises that the Labour government could make a major lurch to the left.Paul Taylor, who founded banking software firm Thought Machine in 2014, told City AM he feared UK businesses were “hanging on by the fingernails” under mounting cost pressures.When questioned what policies he feared a more left-wing government could introduce, Taylor said: “We’ve got too much tax, too much borrowing, too much regulation… it’s not a question of pinpointing just one thing.”Taylor’s remarks come as Britain gears up for its seventh Prime Minister in the space of 10 years as former Manchester Mayor Andy Burnham is expected to be handed the keys to Downing Street after an unchallenged leadership contest.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4127":"投资银行业与经纪业","IJT":"标普小盘成长股600ETF-iShares","KCE":"SPDR KBW Capital Markets ETF","SMCO":"HILTON SMALL-MIDCAP OPPORTUNITY ETF","VTWG":"Vanguard 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one thing.”Taylor’s remarks come as Britain gears up for its seventh Prime Minister in the space of 10 years as former Manchester Mayor Andy Burnham is expected to be handed the keys to Downing Street after an unchallenged leadership contest.\n\nBurnham’s expensive promises – which include the nationalisation of utility firms, some form of compensation for Waspi women and reviving the HS2 leg to Manchester – have heightened fears of a third consecutive tax-heavy Budget by the Labour government.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCapital gains hike ‘profoundly unfair’Burnham is yet to reveal his pick for Chancellor, with a handful of names speculated to be in the running including energy secretary Ed Miliband and former health secretary Wes Streeting.One proposal already floated by Streeting includes what he brands a “wealth tax that works,” where capital gains tax (CGT) is brought in line with income tax.  The former Cabinet minister said mirroring CGT with the three income tax bands, set at 20, 40 and 45, would raise £12bn. The measure is also endorsed by close ally of Burnham, Louise Haigh, who speared his campaign in the Makerfield byelection. \n\nTaylor labelled the proposal as “profoundly unfair,” adding the current 24 per cent on the “occasional win is really quite reasonable”. He added: “If they did raise it and you had high probability that a Conservative or Reform or whatever else government was coming in a couple of years – you’re just not going to sell, you’re going to hang on.” City’s stamp duty is ‘anachronistic’The fintech boss said he worried the growing agitation around the economy was turning entrepreneurs away from setting up shop in the UK.“A lot of people came to London to start companies because it was the most dynamic place in Europe – I fear we’re putting them off,” he said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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