Michael Vaughan issues Autumn Budget plea to Rachel Reeves
Summary
Cricket legend Michael Vaughan has issued a plea to Chancellor Rachel Reeves to help out start-ups and small-to-medium-sized (SMEs) businesses in her Autumn Budget on 26 November.Vaughan, who has recently invested in health and wellness supplement start-up Uthful, hit out at the employers National Insurance increase included in last years Autumn Budget for causing budding entrepreneurs to not think their companies could survive.He added that the Chancellor should help young people have the confidence to set up their own businesses and to foster a culture where people create things that have never been done before, and have that real vision of opportunity.Young people come up with the greatest ideasAll you want is people to have a chance and an opportunity.Within any business, if youre getting hit all the time with National Insurance and many other taxes that are coming to fruition, inflation is driving the price.So those people that are starting out to create a business will go I dont think I can make this work.You want people to have that vision and that idea of a company that they have a chance, and if theres any way she can help that Im sure she will.Young people can come up with the greatest ideas and we have to make sure that theres a platform there for young people to go okay, Ive founded a business and theres a real pathway and a road map for that business to be successful.If she can help in any way to create that, thatd be great for the people that are trying to be entrepreneurs and idea creators.Thats what you want in your country. You want people to create things that have never been done before, and have that real vision of opportunity.I just feel sorry for MPs these daysAsked whether he thought the Labour government has done a good job since taking power, Vaughan added: I dont get into politics. I really find it frustrating because I just think its become too nasty.I just feel sorry for MPs these days that this thing is becoming too nasty.The social media brigade will attack either side. Its like its become like a football brigade.Youre either a red or a blue and theres no middle ground. Its become a place where Im thankful that Im not involved in politics.Vaughan added that despite the heated political discourse around currently, the UK is still a good place to invest in.He said: It clearly is affecting the economy the way that everyone seems to be taking sides on any comment or opinion.I guess social media is driving that, because everyone can have their say but I do always think that the UK will be a good place to invest.At the minute you could argue that its a little bit precarious and you look around the world and think where is a solid place to invest in the minute?I think the worlds in a place that just needs a little bit of leveling out and a little bit of maturity being shown.But I still feel in the UK, we have people and companies that are well worth investing in.Michael Vaughan: How I choose which start-up to invest inVaughan was speaking to City AM after recently investing in health and wellness supplement start-up Uthful, which was founded by Simon Swan.His investment is set to be used to support Uthfuls growth, as part of a \xa3250,000 seed round, ahead of the start-ups launch later this year.Asked why he decided to invest in this start-up in particular, Vaughan said: When I invest I look at brands and I look at people that run them.Simon is a very impressive person that has obviously done well in business before and he suddenly got into the health sector in terms of trying to make sure that as he got older, he stayed healthier.Hes developed this product and when I met him, everything about the products was everything that I was taking anyway,Ive been taking NMN, B12, vitamin C, magnesium, potassium you name it.Ive been taking it every day in a tablet form or on a plate that I used to put under my tongue, which was great as well.But carrying everything around as a person that travels the world in a big bag of drugs its quite awkward going through the airports and a one stop shop is perfect for me.He added: Im a big believer in backing people.