Friday, May 28, 2010
CGT Rise - a double edged sword?
Telegraph: Capital gains tax rise to punish prudent savers
"A rise in capital gains tax would cause "unfair financial hardship" for prudent long-term savers, one of the world's biggest investment firms has warned". The Telegraph goes on the ofensive against the big CGT rise.
Posted by alan @ 07:49 AM (670 views) Add Comment
5 Comments
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1. who stole my pension? said...
I think a far simpler and quicker way for the government to raise money would be to remove all the animals from Chester Zoo and replace them with MP's, bankers, regulators and rating agency staff. They could then charge an entrance fee that could go to paying of the debt that these morons have encouraged people to take out. If the entrance fee doesn't raise enough money then the zoo management could charge the public for eggs etc to throw at these animals. I am sure the public will happily buy an entrance ticket!
2. paul said...
I see what they've done here - they've simply stopped calling property portfolios 'investments' and started calling them 'savings'.
Nice try.
3. Wageslavex14 said...
I have been genuinely amazed at how willing the newspapers have been to top and tail PR releases from vested interests on the subject of CGT, and how few articles mention that they are just reinstating the link between the top rate of income tax and CGT, which was in place until 2007/2008.
I am fairly used to lazy business journalism, but CGT reporting has depressed me even more.
4. 51ck-6-51x said...
The CGT rise without any inflation relief is a double whammy for the treasury - wouldn't it actually encourage the state to propel asset-inflation whist taking on more debt in the future?
5. doomwatch said...
This CGT rise will affect vastly more peole than BTL and property speculator sc um. In terms of
tax revenue, it's small beer expensive to implement, and enforcement relies on people been honest
on their tax return [if they can be bothered or realise to fill one in].
It would be far easier, and guaranteed to collect, by simply increasing VAT on beer by 1%. Job done.
I'm off for a pint with uncle Vince to set him straight.