UK Will Not Equalize Capital Gains and Income Tax
British finance minister John Healey reportedly will not raise capital gains tax to match income tax levels ahead of the upcoming October budget. The decision follows speculation over how the government will fund increased spending commitments while keeping manifesto pledges.
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United Kingdom finance minister John Healey will not equalize capital gains tax with income tax, avoiding a hike that would have aligned the rates at up to 40%. The policy decision averts a major shift for investors just weeks before the government's budget presentation. Prime Minister Andy Burnham faces mounting pressure to fund expanded defence spending and social care amid rising borrowing costs.
