The Chancellor will use the Budget to hike capital gains and inheritance taxes to fund Gordon Brown's pledge today not to cut front-line services, Legal and General predicts.
On 24 March, announced this morning as Budget Day 2010, Alistair Darling can only support the PM's assurances by borrowing more or upping taxes, says L&G's head of tax and estate planning Mark Green. "We all know we are borrowed up to the hilt. There's no reason why he wouldn't up capital gains tax (CGT) from 18%, and even align it with income tax at 40 or 50%," he says. In a speech in Canary Wharf this morning, the Prime Minister asked: "Do we undermine our frontline public services...
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