---
title: "BrewDog founder takes on tax hike threat before possible float"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-10-16T04:13:29+00:00"
modified: "2024-10-16T04:13:29+00:00"
date: 2024-10-16
canonical: "https://stockmark.it/brewdog-founder-takes-on-tax-hike-threat-before-possible-float/"
category: "Personal finance"
categories: ["Personal finance", "Tax"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2024-10-16T051242.947.jpg?fit=1200%2C800&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# BrewDog founder takes on tax hike threat before possible float

**Published:** October 16, 2024
**Author:** Stockmark.IT Website
**Categories:** Personal finance, Tax
**Featured image:** ![BrewDog beer in a glass. The BrewDog logo is visible. from Stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2024-10-16T051242.947.jpg?fit=1200%2C800&quality=89&ssl=1)

---

BrewDog founder has criticized the government for plans to increase capital gains tax in advance of a much-anticipated stock market listing of the brewery that could result in a large payout.

In an email to Sir Keir and Rachel Reeves, on LinkedIn the business-focused platform of social media, James Watt 42, former chief executive at BrewDog said that raising capital gains taxes in this month’s budget “will destroy the entrepreneurial spirit in Britain and severely damage our economic”.

Watt, who founded the craft beer brewery in 2007 along with Martin Dickie (also 42), warned that entrepreneurs would “simply leave the UK” to create businesses and jobs elsewhere.

He said: “If we lose the brightest and most successful entrepreneurs, as we will undoubtedly do if we increase capital gains taxes significantly, we deal a serious blow to the UK’s economy and overall prosperity for every UK family.”

The increase in capital gains tax would do more harm to our economy and the economy as a whole than it could possibly gain.

Watt, who handed over his position as chief executive of BrewDog to James Arrow in May and transferred the role to him, made these comments at a time when the Scottish brewer was considering a stock-market float. Watt had previously stated that he believed the company could be valued at £1.8 billion.

A formal initial public offer has not yet begun. Other options, such as a private equity deal, are being considered. Watt, who owns a 21 percent stake in BrewDog in an interview with Bloomberg, stated that the brewery was considering a stock market listing either in London or New York.

Watt didn’t rule out a large brewer like Heineken or Carlsberg, but added that it was “not in the plan”, although “everyone has a price”.

In 2021, Watt was accused in an open-letter by former employees of having “toxic attitudes” toward junior staff and a “culture” of fear within the company. He apologized to the staff and said the group had made changes following the publication of the open letter.

In January, he was also criticized for announcing that BrewDog no longer hired new employees at the “real” legal minimum wage.

Watt, in an interview conducted this year denied most of the accusations made against him. However, he did admit that he could be “too intense” at times.

Brewdog restructured its internal procedures and appointed Allan Leighton as its chairman, the former Asda boss.

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