CGT fears spark shares and property sell-off - papers

By realising large gains before next Wednesday's Budget, taxpayers hope to lock in the current 18% capital gains tax rate and dodge any rise, the Financial Times reports. But the chancellor is thought to have rejected raising the tax now, fearing it could provoke a backlash from the business community and undermine his central Budget claim to be supporting jobs. The Treasury admits the gulf in rates between the CGT rate of 18p and the new 50p top rate of income tax for high earners - which takes effect in April - is creating some "strange incentives". Mr Darling acknowledges the Tr...