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Capital Gains Tax

Question for Treasury

UIN 143063, tabled on 25 January 2021

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing Capital Gains Tax at Income or Corporation Tax rates under a taper relief system with a proportional reduction for each year an asset has been held.

Answered on

28 January 2021

The Government keeps all taxes under review, and any changes are made at fiscal events within the context of wider public finances. The Government’s priority is supporting jobs and the economy, through the Winter Economy Plan, Plan for Jobs and the forthcoming Budget.

Any changes to the tax system will balance the need to raise revenue with the principles of fairness and market efficiency.

Answered by

Treasury
Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.