The reason this is a bad idea is because dividends are why people invest (yes, really: capital gains are simply the capitalisation into stock prices of future dividend streams, basic financial accountancy 101).
In fact, Leeds always had thebasic ingredients for a financial centre: the Yorkshire Bank, plus big building societies and an array of law and accountancy firms, all loyally patronised by local manufacturers.
That said, the latest change by the chancellor would see some higher rate taxpayers gaining more than basic rate taxpayers, according to Patricia Mock, ofaccountancy firm Deloitte.