Manifesto says CGT should be same rate as income tax
The Liberal Democrat have pledged to bring capital gains tax into line with income tax.
The Lib Dem manifesto says that ensuring all earnings are taxed at the same rate would generate £1.9bn per annum worth of revenues for the public finances.
While the main CGT rate is currently 18%, the top rate of income tax has climbed to 50% for earnings above £150,000.
The Lib Dems, who have a chance of determining the composition of the next government if there is a hung Parliament, have also pledged to raise an extra £1.4bn by closing corporation tax loopholes.
The manifesto proposes the restoration of a public interest test when takeovers are being considered by regulators. And it says directors’ social and environmental duties will have to be covered in public company reporting.
