00:04:41 · S0, S2, Surinder Arora
[00:04:41] S0: Yeah, absolutely. [00:04:42] S2: But does it make you change your view on the UK? I mean, we have seen people like Chris Rockos leaving. You know, does it make you reconsider or others? How do you think about it? [00:04:56] S1: Well, I've been in England, UK for 54 years. And after the Rachel Reeves budget a couple of years ago, it was the first time we start asking ourselves the question, do I really want to be here? But then I've taken a different view. I came to this great country with nothing 54 years ago, have managed to build up a business, secure a family future, employ over 3,000 people, and we decided I may not agree with this government. It's the same with the Brexit thing. I didn't agree with, based on the Brexit, that I was going to be leaving the nation and leaving Europe and negotiate from the outside. I felt, no, I've made all my money, my business, my success here. I will continue and I'll fight from within rather than leave the country and run off somewhere. So, of course, it's painful. But no, that's something that I've decided to very happily and proudly say I'm going to stay and fight from within the camp. [00:05:56] S0: Yeah. [00:05:57] S2: And so what did you think about this investor visa idea? [00:06:01] S0: I mean, the government didn't. [00:06:03] S2: Create an investor visa route or any sort of route for wealthy overseas residents, you know, to make a base in the UK beyond just the sort of current now fairly narrow employment talent routes. [00:06:17] S0: Was that a mistake?
00:06:17 · S0, Surinder Arora, S2
[00:06:17] S0: Was that a mistake? [00:06:19] S1: Well, I think, of course, you know, when you've driven so many people, you mentioned yourself, so many entrepreneurs, business people leave the country and then you want to start the investor visa route. we should be looking at thinking well actually we don't want people that are I shouldn't just use the wealth creators but employment creators people who entrepreneurs who start off take a lot of risk and in life there should always be risk and reward rather than that jealousy factor let's just keep going after the entrepreneurs and the rich people so then you drive them out and I think if personally, if it was me, I'd actually be saying, let's get more entrepreneurs, more business people, and not even business people. We cannot get enough resource, whether in our hospitality sector, in the care sector, travel tourism. Travel tourism is more than 10% of our GDP. We should be encouraging people to come in, if they want to come into the country and work and pay taxes... That should be win-win for everyone. You know, we struggle in our industry to employ people. And I really wish the government would look at that. [00:07:32] S2: Yeah. Just lastly, on the new founders relief offer, do you think that that will make any difference? It's offering tax relief for entrepreneurs who build up a business and limiting the amount of tax they have to pay up to 10 million pounds were they to sell a business. [00:07:47] S0: Does that make any difference to you?
00:07:47 · S0, Surinder Arora, S2
[00:07:47] S0: Does that make any difference to you? [00:07:51] S1: Not to me personally, but I think it definitely makes a difference for young entrepreneurs, for people coming in. But, you know, then again, we should be aiming high. And, you know, people, whether you have big entrepreneurs, big meaning, you know, that are coming in and are setting up business, employing thousands of people, we should be welcoming and encouraging all business leaders rather than discouraging them. [00:08:16] S0: So it's not ambitious enough, the 10 million, in your view? [00:08:19] S2: No. [00:08:20] S1: We can always do a lot better in my view. [00:08:22] S0: Okay. [00:08:22] S2: So, Linda, thank you so much for your time. Thanks for being with us this morning. Appreciate your view. So, Linda, Arora is founder and chairman of the hotel operator Arora Group.