CBI to discuss CGT with Chancellor

News Article - 22 October 2007
Category: Business

Representatives of some of the UK's foremost business sector organisations are to meet with the chancellor Alistair Darling to discuss the recently announced changes to the capital gains tax (CGT) system.

The groups to be represented at the meeting, which is scheduled for Monday October 22nd, are the Confederation of British Industry (CBI), the Federation of Small Businesses, British Chamber of Commerce and the Institute of Directors.

Mr Darling has called the meeting after the CBI published an open letter to the chancellor last week spelling out its dissatisfaction at the announcement that taper relief on CGT is to be abolished.

Richard Lambert, director-general of the CBI, said: "We look forward to a constructive meeting with the chancellor to discuss his changes to CGT which have caused real concern amongst the business community."

In the open letter to Mr Darling, the CBI asserted that the abolition of taper relief in CGT would risk the environment of "enterprise and risk-taking" that has been fostered during the past decade.

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