Liberal Democrats in Business

News and views from the Lib Dem Treasury, Trade and Industry Teams and Business Forum

Capital Gains Tax Just Another Empty Tory Pledge

1.09.00pm GMT Wed 29th Dec 2004

Commenting on proposals by the Conservatives to scrap Capital Gains tax, Liberal Democrat Shadow Chancellor Vince Cable MP, said today: "The Capital Gains tax regime is in urgent need of reform and simplification. But it remains unclear whether this is just another example of the Tories trying to titillate voters with pledges they have no intention of honouring.

"If Oliver Letwin is serious about this proposal he has to explain why this is a better use of £ 2 billion per year than restoring health to the budget by cutting taxes for people with low income."

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