TaxPersonal Tax‘Soak the rich’ measures played down for PBR

‘Soak the rich’ measures played down for PBR

CGT and income tax plans to stay unchanged on Wednesday

Alistair Darling will stop short of raising capital gains tax or income tax
beyond 50% in his pre-Budget report as fears grow of a City exodus.

Despite fears that the rich will be forced to pay for the economic downturn,
the
Times
reported that income tax will remain as planned, there will be no raid on
pensions, while the Treasury has dismissed talk of a windfall tax on banks and
bonuses.

The chancellor’s statement will include further anti-avoidance measures
designed to stop schemes that shield bonuses. He will also claim that the budget
deficit will peak just a few billion above the £175bn forecast before falling
back.

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