Splits in business ranks over CGT proposals
Splits are appearing among leading business groups in their demands to Treasury over chancellor Darling's changes of the capital gains tax
Splits have appeared among leading business groups in their fight against
chancellor Alistair Darling’s capital gains tax (CGT) changes as the
Institute
of Directors (IoD) lobbied Treasury officials this week separately from
other members of the alliance with its own proposed amendments, said to include
a compromise 16% rate.
Miles Templeman, director general of the Institute of Directors, told The
Business magazine that, although there was merit in the trade bodies maintaining
a united front, IoD would submit its proposals independently.
The
CBI
and the British Chambers of Commerce are preparing separate submissions, which
they plan to present by the end of the month, while the Federation of Small
Businesses does not expect to reveal its proposals to the Treasury until late
December.
The Treasury is understood to be surprised by the approach after the
chancellor had given the trade bodies the option of submitting their plans
together.
Further reading:
Lukewarm response to Darling’s CGT backflip