Grant Thornton says the Treasury will need to raise taxes by the equivalent of ₤250 per UK household if it is to recoup an overrun of ₤6bn as the government borrows more than ₤100m a day.

Maurice Fitzpatrick, a Grant Thornton tax expert told Thompson Financial, this meant any changes to the capital gains tax (CGT) reform would be minimal.

'It is inconceivable that it would wish to increase public borrowing forecasts, therefore it is expected that additional revenue will have to come the the tax system,' Fitzpatrick said.

He said proposals on non-domicile tax which will be released next year would also be revenue raising initiatives.

Further reading:

Gordon Brown defends CGT decisions

Tories say CGT explanations are unravelling

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