Business ‘more angry than ever before’ over CGT

The business community has never been so angry with the government, as it
faces increasing red tape and unsound tax changes, CBI director general Richard
Lambert said yesterday.

Ahead of the CBI’s annual conference, Lambert said people in the business
community were fuming over proposed changes to capital gains tax, which sees the
10% tapered tax rate removed, plus increasing regulatory burden.

‘The CGT proposals in the pre-Budget report came out of the blue. I think
they were not properly thought through and unsound,’ Lambert said in

‘People are more angry than anyone can remember. It’s a very big deal,’ he

The CBI, along with other major business lobby groups,
combined forces to urge the government
to rethink its CGT plans.

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