UK - No tax changes imminent says Darling

The new Chancellor Alistair Darling has told the Financial Times that he will not be making any knee jerk reactions to change the tax regime enjoyed by the UK's private equity industry. He urged critics not to suggest that "all private equity is bad - that's just nonsense." Darling also recognised the "critical" role that the City plays in the UK economy and private equity's part in that. The news will mollify the industry which has been shaken by various attacks from trade unions and being pulled in front of the Treasury Select Committee in recent months.