Looks Like Dave Is Sticking To His Guns On Cgt

[Realistbear]

http://www.timesonline.co.uk/tol/news/politics/article7137750.ece

From Times Online

May 27, 2010

Cameron offers no comfort on Capital Gains Tax

David "Dave" Cameron has yet to bow to a Tory backbench rebellion on Capital Gains Tax

The Prime Minister this morning gave no immediate reassurance to hundreds of thousands of stock market speculators and second home owners who are scrambling to offload their assets to avoid the threat of higher Capital Gains Tax.

Questioned about the growing fury in the ranks of his own backbenchers about the government’s proposed tax raid on wealth, David Cameron would say only that entrepreneurs would be exempted from higher tax rates that would damage small businesses.

Looks like he may help productive things like businesses but will tax the unproductive and socially damaging things like 2nd homes. This is a very good start. Keep it up Dave and you may push Winston off best PM ever perch.

[Home_To_Roost]

Bring it on. Houses are for living in!

[Georgia O'Keeffe]

http://www.timesonline.co.uk/tol/news/politics/article7137750.ece

From Times Online

May 27, 2010

Cameron offers no comfort on Capital Gains Tax

David "Dave" Cameron has yet to bow to a Tory backbench rebellion on Capital Gains Tax

The Prime Minister this morning gave no immediate reassurance to hundreds of thousands of stock market speculators and second home owners who are scrambling to offload their assets to avoid the threat of higher Capital Gains Tax.

Questioned about the growing fury in the ranks of his own backbenchers about the government’s proposed tax raid on wealth, David Cameron would say only that entrepreneurs would be exempted from higher tax rates that would damage small businesses.

Looks like he may help productive things like businesses but will tax the unproductive and socially damaging things like 2nd homes. This is a very good start. Keep it up Dave and you may push Winston off best PM ever perch.

stock market speculators scrambling?, its not exactly hard is it, you just pick up the phone and sell, not much of a scramble i would have thought

[the_duke_of_hazzard]

http://www.timesonline.co.uk/tol/news/politics/article7137750.ece

From Times Online

May 27, 2010

Cameron offers no comfort on Capital Gains Tax

David "Dave" Cameron has yet to bow to a Tory backbench rebellion on Capital Gains Tax

The Prime Minister this morning gave no immediate reassurance to hundreds of thousands of stock market speculators and second home owners who are scrambling to offload their assets to avoid the threat of higher Capital Gains Tax.

Questioned about the growing fury in the ranks of his own backbenchers about the government’s proposed tax raid on wealth, David Cameron would say only that entrepreneurs would be exempted from higher tax rates that would damage small businesses.

Looks like he may help productive things like businesses but will tax the unproductive and socially damaging things like 2nd homes. This is a very good start. Keep it up Dave and you may push Winston off best PM ever perch.

Has he been talking to Fred Harrison, I wonder?

[ReJoyce]

Need to read the whole article:

"An initial promise to raise the CGT rate from 18 per cent to “similar or close to” income tax levels prompted fears of an increase to something approaching 40 or even 50 per cent. The language was watered down in the Queen’s Speech, so that the pledge is now for rates “closer to” income tax levels, but the subtle climbdown has failed to quell opposition. Senior Tories predict that there will be problems for Mr Osborne with his party if the level is set above 25 per cent. "

So somewhere around 25%, not the 40% it should be.

regards

J

[Blue Nose Bear]

http://www.timesonline.co.uk/tol/news/politics/article7137750.ece

From Times Online

May 27, 2010

Cameron offers no comfort on Capital Gains Tax

David "Dave" Cameron has yet to bow to a Tory backbench rebellion on Capital Gains Tax

The Prime Minister this morning gave no immediate reassurance to hundreds of thousands of stock market speculators and second home owners who are scrambling to offload their assets to avoid the threat of higher Capital Gains Tax.

Questioned about the growing fury in the ranks of his own backbenchers about the government’s proposed tax raid on wealth, David Cameron would say only that entrepreneurs would be exempted from higher tax rates that would damage small businesses.

Looks like he may help productive things like businesses but will tax the unproductive and socially damaging things like 2nd homes. This is a very good start. Keep it up Dave and you may push Winston off best PM ever perch.

It's becoming a good test of his strength of character and his ability to get us out of this mess.

Let's hope he has the gumption to get over this first fence at least it will be a positive sign that he may stay the course.

[dothemaths]

http://www.timesonli...icle7137750.ece

From Times Online

May 27, 2010

Cameron offers no comfort on Capital Gains Tax

David "Dave" Cameron has yet to bow to a Tory backbench rebellion on Capital Gains Tax

The Prime Minister this morning gave no immediate reassurance to hundreds of thousands of stock market speculators and second home owners who are scrambling to offload their assets to avoid the threat of higher Capital Gains Tax.

Questioned about the growing fury in the ranks of his own backbenchers about the government's proposed tax raid on wealth, David Cameron would say only that entrepreneurs would be exempted from higher tax rates that would damage small businesses.

Looks like he may help productive things like businesses but will tax the unproductive and socially damaging things like 2nd homes. This is a very good start. Keep it up Dave and you may push Winston off best PM ever perch.

I hope you're right but

I don't share your optimism - I think he'll cave in before the budget.

DTM

[Mega]

Don't let us down DC !

Mike

[HovelinHove]

Some of the Tories might not like it, but it will be popular with voters, especially young ones who must really despise the venal contempt that their parent's generation has treated them with. How many people will be negatively affected by this, a couple of million, but in the long run everyone stands to gain. If it was just the Tories in power, DC would cave in, but the coalition is a different matter. I think they'll plump for 30% 2011/12 tax year then 40% after 2012 which will do very nicely thank you very much, and ensure that plenty sell up and cause that much awaited for crash

Bottom line is that they have to do this if they are going to raise VAT, if they back down now on taxing the rich who have made a quick buck out of inflating asset bubbles, they will have no moral authority to raise taxes for everyone else.

Edited May 27, 2010 by HovelinHove

[RufflesTheGuineaPig]

Bottom line is that they have to do this if they are going to raise VAT, if they back down now on taxing the rich who have made a quick buck out of inflating asset bubbles, they will have no moral authority to raise taxes for everyone else.

And this matter to them HOW????

They are in power for 5 years now. That's 5 years to do WHATEVER THEY LIKE.

here some suggestion as to what they'll do:

=> Tax the poor more

=> Tax the rich less

=> Change their £60k "expenses" into a simple £60k "tax-free allowance"

[yellerkat]

And this matter to them HOW????

They are in power for 5 years now. That's 5 years to do WHATEVER THEY LIKE.

here some suggestion as to what they'll do:

=> Tax the poor more

=> Tax the rich less

=> Change their £60k "expenses" into a simple £60k "tax-free allowance"

Because the coalition will collapse and they'll be back on the opposition benches facing Hattie Harperson?

[Peter Hun]

Need to read the whole article:

"An initial promise to raise the CGT rate from 18 per cent to “similar or close to” income tax levels prompted fears of an increase to something approaching 40 or even 50 per cent. The language was watered down in the Queen’s Speech, so that the pledge is now for rates “closer to” income tax levels, but the subtle climbdown has failed to quell opposition. Senior Tories predict that there will be problems for Mr Osborne with his party if the level is set above 25 per cent. "

So somewhere around 25%, not the 40% it should be.

regards

J

What I find annoying is that they are using the defence that savers and pensioners will be hit. Now correct me if I'm wrong but surely pensions and ISA's are CGT exempt?

The only real people who will be hit by the rise are property speculators, even investors in property should be dependant on the rental income not asset appreciation and they are idiots if they were not aware of CGT which only decreased recently.

Edited May 27, 2010 by Peter Hun

[Realistbear]

Some of the Tories might not like it, but it will be popular with voters, especially young ones who must really despise the venal contempt that their parent's generation has treated them with. How many people will be negatively affected by this, a couple of million, but in the long run everyone stands to gain. If it was just the Tories in power, DC would cave in, but the coalition is a different matter. I think they'll plump for 30% 2011/12 tax year then 40% after 2012 which will do very nicely thank you very much, and ensure that plenty sell up and cause that much awaited for crash

Bottom line is that they have to do this if they are going to raise VAT, if they back down now on taxing the rich who have made a quick buck out of inflating asset bubbles, they will have no moral authority to raise taxes for everyone else.

There have been property booms and busts for many centuries. Do not blame the previous generation as they are where the next generation will be under the same repeating circumstances.

The man to blame was the man who was given charge over our countries economic policy. He gave in to greed and ruined the property market and the lives of thousands, old and young alike.

DC needs to stay radically conservative and do all he can to correct the abuses of the last regime. He has a decent fella with Vince and someone on here predicted Vince would wield great power in a coalition government over a year ago.

[Goat]

And this matter to them HOW????

They are in power for 5 years now. That's 5 years to do WHATEVER THEY LIKE.

here some suggestion as to what they'll do:

=> Tax the poor more

=> Tax the rich less

=> Change their £60k "expenses" into a simple £60k "tax-free allowance"

Raising CGT is taxing the poor more and the rich less

[Prof]

Come on Dave, you can do it.

And when you`ve done it, wait until house prices fall by 30%+, then introduce house prices back into the equation for setting interest rates.

Blimey, could it be that we are starting to see some sensible decisions being made by the people in power ?

[council dweller]

We're not going to know until 22nd of June, meanwhile lobby your MP.

I wrote to mine (health minister Andrew Lansley) and got a reply along the lines of what Dave is now saying. Help for entrepreneurs, 10k personal income tax allowance, must reduce the deficit etc. Keep the pressure up over few weeks and we may get a result.

[magneticworld]

I hope you're right but

I don't share your optimism - I think he'll cave in before the budget.

DTM

+1

btw now and 22 June is a lot of days for a lot of behind the scenes lobbying by the VI groups

[sera]

We're not going to know until 22nd of June, meanwhile lobby your MP.

I wrote to mine (health minister Andrew Lansley) and got a reply along the lines of what Dave is now saying. Help for entrepreneurs, 10k personal income tax allowance, must reduce the deficit etc. Keep the pressure up over few weeks and we may get a result.

We have the same MP - I might be dropping him an email soon....

[Guest The Relaxation Suite]

Need to read the whole article:

"An initial promise to raise the CGT rate from 18 per cent to “similar or close to” income tax levels prompted fears of an increase to something approaching 40 or even 50 per cent. The language was watered down in the Queen’s Speech, so that the pledge is now for rates “closer to” income tax levels, but the subtle climbdown has failed to quell opposition. Senior Tories predict that there will be problems for Mr Osborne with his party if the level is set above 25 per cent. "

So somewhere around 25%, not the 40% it should be.

regards

J

For reasons of human nature, this debate has been framed as a 18% or 40% one. It used to be 40% didn't it, and then Labour cut it to 18% to pour more petrol on HPI fire. We can expect a nice middle ground here. I predict 30% CGT in second homes. It should be 75% of course, but that's another story.

[benzlife]

I think the Libdems are sticking their heels in on this one, judging by what I've heard I suspect this was a key concession in the forming of the coalition. IMO Dave has no choice but to proceed or risk destabilizing the coalition.

[Guest The Relaxation Suite]

I think the Libdems are sticking their heels in on this one, judging by what I've heard I suspect this was a key concession in the forming of the coalition. IMO Dave has no choice but to proceed or risk destabilizing the coalition.

Yes I say 30% but really it depends on how much sway the right wing of the good old ****** the poor Tory party have over Cameron.

[council dweller]

We have the same MP - I might be dropping him an email soon....

'might be'?

Put your postcode on and hopefully you'll get a reply.

I think they welcome feedback on this one, uncharted waters for Tories.

South Cambs hey? The horror innit!

[scottbeard]

I predict 30% CGT in second homes. It should be 75% of course, but that's another story.

Some capitalists would argue both CGT and Income tax should be 0%

Communists would argue that ownership of any property should be forbidden by law

[steve99]

And this matter to them HOW????

They are in power for 5 years now. That's 5 years to do WHATEVER THEY LIKE.

here some suggestion as to what they'll do:

=> Tax the poor more

=> Tax the rich less

=> Change their £60k "expenses" into a simple £60k "tax-free allowance"

Sounds about right, I remember the last Tory government painfully, as any tail end so-called Baby boomer would.

There have been property booms and busts for many centuries. Do not blame the previous generation as they are where the next generation will be under the same repeating circumstances.

The man to blame was the man who was given charge over our countries economic policy. He gave in to greed and ruined the property market and the lives of thousands, old and young alike.

DC needs to stay radically conservative and do all he can to correct the abuses of the last regime. He has a decent fella with Vince and someone on here predicted Vince would wield great power in a coalition government over a year ago.

I agree, the personal miseries of my age group were perpetuated by a bunch of people born in the 1920's. My old landlords back in the bad old days of renting were also born in that era. As for politicians, they will do what ever is expedient for their own careers and finances and perhaps doffing their caps to their masters, in this case the 'City' and the big landlords which is why 40%CGT will be watered down somewhat. Lets hope Vince holds sway.