Darling under fire for CGT delay
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Chancellor Alistair Darling has come under fire again this morning for delaying an announcement on Capital Gains Tax changes.
It means that thousands of small businesses and entrepreneurs will now have to wait a further three weeks to find out what rate of tax they will pay on the assets they sell after April.
Darling last month assured the Confederation of British Industry that he was listening to protests to his Pre-Budget Report decision to launch a flat rate CGT charge of 18%.
Vince Cable MP, acting Liberal Democrat leader, says: “It is entirely unacceptable that hundreds of thousands of businesses should be forced to live in this continued environment of uncertainty, purely because the government bungled its original proposals.”
George Osborne MP, the Conservative’s shadow chancellor, says: “The latest debacle in the CGT saga lays bare the weakness and dysfunction at the heart of Gordon Brown’s government.”
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