Chancellor Rachel Reeves overhauled the UK’s fiscal rules and taxes to increase public spending in her party's first Budget in 14 years last week (30 October), but some global investors doubt this will bolster Britain’s markets.
Reeves announced plans to raise taxes by £40bn to fix the country's broken public finances and plug a so-called £22bn ‘black hole' left behind by the Conservatives. The agenda included changing the capital gains tax (CGT) regime, with the lower rate of CGT going up from 10% to 18% and the higher rate from 20% to 24%, while keeping CGT on residential property unaltered. CGT rates on carried interest will also be hiked to 32% from April next year, ahead of a further set of reforms from April 2026, while on the inheritance tax front, Reeves introduced a 20% rate on shares held on the Alt...
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