Cable defends CGT rise

At Commons question time, Cable said the coalition agreement envisaged reform of CGT as a means of "making the tax system fairer", according to the Press Association. The change would help create revenue to "help lift the tax threshold and lift very large numbers of low-earners out of tax". But he added: "We are conscious of the impact of CGT on business. We want to make it very clear that any reforms will acknowledge the role of entrepreneurship and not damage it." Cable was replying to Tory Michael Fallon, a member of the Treasury select committee in the last Parliament, amid mou...