From The Independent · · 1m
Healey rules out capital gains tax rise before Budget
The Chancellor rejects raising capital gains tax, citing risks to growth and tax revenue, as the government prepares its October 28 statement.
In brief
The Chancellor rejects raising capital gains tax, citing risks to growth and tax revenue, as the government prepares its October 28 statement. Chancellor John Healey has rejected calls to raise capital gains tax at the Budget, citing concerns it could harm economic growth and reduce government revenue. Originally…
Healey blocks capital gains tax rise
Chancellor John Healey has rejected calls to raise capital gains tax at the Budget, citing concerns it could hamper economic growth and reduce government revenue.
Labour figures had pushed for the increase
Over the summer, prominent Labour voices including Defence Secretary Wes Streeting and Louise Haigh spoke of raising capital gains tax before Andy Burnham became Prime Minister.
Bank tax to fund cost-of-living support
The biggest revenue-raising measure in the Budget is an increase in the rate banks pay on their profits, expected to fund cost-of-living support for households and businesses.
At a glance
Chancellor John Healey has rejected calls to raise capital gains tax at the Budget, citing concerns it could harm economic growth and reduce government revenue.
