Election 2010: Lib Dems would tax capital gains at same rate as income

Capital gains are currently taxed at 18%, but the Lib Dems want to increase this to the same level as income tax, which could see CGT rise to as much as 50%. The Lib Dems made the announcement today as they unveiled their party manifesto, the last of the three main parties to do so. In last month's Budget, Alistair Darling doubled the entrepreneurial relief for CGT in a bid to make it more attractive for what he called "wealth creators and innovators" to set up their own businesses. The Chancellor also confirmed he would not increase CGT from its current rate of 18%. Elsewhere, ...