Calling on the coalition to think again

Increase in Capital Gains Tax will cause unnecessary economic harm to investors

Professor Philip Booth, Editorial and Programme Director of the Institute of Economic Affairs is calling on the coalition to think again about raising Capital Gains Tax, he said:

“Capital Gains Tax is a kick in the teeth for those savers who cannot afford to avoid it and for companies that do not load themselves with debt.”

“The evidence suggests that an increase in Capital Gains Tax would raise little revenue and would cause a great deal of economic harm at a time when we cannot afford it. The effects on the private rented market could be devastating.”

“Why anybody should want to tax savings and investment yet further, as we recover from the lowest savings ratio in history, is completely baffling.”

“Raising Capital Gains tax ignores one of the main lessons of the financial crash - biasing the tax system further in favour of debt financing is a terrible idea. The government should think again.”
 

IEA Brexit prize

Invest in the IEA. We are the catalyst for changing consensus and influencing public debate.

Donate now

Thank you for
your support

Subscribe to
publications

Subscribe

eNEWSLETTER