Legal & General's chief has urged the government for clarification of CGT rules in relation to investment bonds.

Chief executive Tim Breedon said CGT changes and economic uncertainty had led to a 'lower propensity to put money into long-term savings vehicles', reported the FT.

Better news for Legal & General was its announcement that it had struck a deal to take on the pensions assets and liabilities of several large businesses.

Weir Group, Electricity Association Services and Queens Moat House Hotel Group sold off their pension schemes, the market for which Breedon said was finally opening up.

Further reading:

Tax Hack: Has Brown cut CGT?

Brown claims Labour has cut CGT

Giuliani proposes biggest tax cut in US history