Chancellor to "talk to businesses" about tax changes

News Article - 26 October 2007
Category:

Chancellor Alistair Darling has told the Treasury select committee that he would discuss the details of the government's capital gains tax proposals with businesses.

In his pre-Budget report, Mr Darling announced that capital gains taper relief would be abolished and a capital gains flat rate of 18 per cent introduced.

According to the Daily Telegraph, the chancellor suggested before the committee that he would not consider re-introducing taper relief.

"I believe that a simple tax system is very, very important and I don't want to start re-introducing any more complications," he remarked.

However, the newspaper reports that Mr Darling would not confirm whether this meant he was ruling out a u-turn on the issue.

Responding to the proposals announced earlier in the month, John Cridland, deputy director general of the Confederation of British Industry, said that removing taper relief would "adversely affect" the UK's business sector.

Article keywords:

---

More industry news

• Think tank warns UK may have already slipped back into recession
• Growing demand for HR staff in technology and international sectors
• Boosting business growth a ‘priority’ to avoid Eurozone slowdown
• HMRC launches alternative disputes pilot scheme this week
• December employment statistics disregard gloomy recruitment predictions
• Eurozone manufacturing PMI shows modest improvement
• UK scores highly for economic governance by ratings agency
• Government launches two-year project focusing on manufacturing sector
• Burden of regulation on UK businesses ‘too high’

Back to news home page »