Chancellor Healey rules out a capital gains tax hike, snubbing Cabinet colleagues Haigh and Streeting ahead of next week's Budget
HMRC's own estimate found that lifting the higher rate of CGT by 10 per cent would cut Treasury receipts by £3.6bn in 2028-9. Billionaires David and Simon Reuben have already decamped to Monaco with a £28bn fortune. The tax stays at 18 per cent for basic-rate payers and 24 per cent for higher-rate payers. Chancellor John Healey is now expected to target bank profits instead on October 28.
Louise Haigh and Wes Streeting both pushed for a CGT rise over the summer.
Lord Jim O'Neill, a former Burnham adviser, warned a rise sends 'the wrong message to business'.
Hedge fund boss Chris Rokos, who paid £330m in tax last year, moved to Greece.
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Daily MailChancellor kills Labour Left's hopes of CGT hike in BudgetEvening StandardChancellor John Healey 'rules out increasing capital gains tax' in BudgetThe GuardianHealey to reject calls to raise capital gains tax in budgetThe IndependentChancellor reveals whether he would raise capital gains tax in BudgetEvening StandardJohn Healey rejects calls to raise capital gains tax at the BudgetCity A.M.John Healey rules out capital gains tax hike in BudgetBBC NewsChancellor rejects calls to raise Capital Gains Tax in BudgetLBCHealey dismisses calls to hike capital gains tax at Budget over worries of hit to growthLBCHealey rejects calls to raise capital gains tax at the BudgetThe TelegraphHealey rules out capital gains tax rises in BudgetEvening StandardUK’s jobless rate falls but shrinking vacancies a ‘bitter blow’ to jobseekersEvening StandardUK unemployment falls to lowest in a year but vacancies slide further
