UK Politics

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CGT Increase (www.theguardian.com)

submitted 1 month ago by Churbleyimyam@lemm.ee to c/uk_politics@feddit.uk

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I'm expecting an increase in capital gains tax to get heavily attacked in the media and by the free market (pro-inequality imo) crowd, for predictable reasons. And they may even be right that in the long term the amount of direct revenue it raises is not significant.

BUT if a secondary consequence of this is an offloading of assets (particularly houses) I think it could be great. As the article reports; "Wealth managers have reported a flurry of investors rushing to sell second homes and other assets before the budget."

Am I right in reading this policy as a disincentive to hoarding and rent-seeking?

I don't think Labour will have the guts to come out and say this is something they're actually aiming for.

What do you think?

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