How a Labour capital gains tax raid would make Britain a global outlier

CPS Head of Tax Tom Clougherty is quoted in the Daily Telegraph, responding to calls from some front-bench Labour MPs that a Labour government could align the rates of capital gains tax.

Tom told the paper the move would mean “Britain would end up with the least competitive personal tax system in the OECD. Considering we’re already towards the bottom of the rank for business taxes and property taxes, it would leave us with a pretty unappealing tax system from the perspective of a business or an investor.”

“That’s bad for growth, especially given where we are in the economic cycle at the moment” he added.

Read the article here.

Date Added: Friday 24th March 2023