TaxCorporate TaxDarling defends CGT delays

Darling defends CGT delays

Chancellor will take time on CGT concessions 'to get it right'

Alistair Darling has defended his decision to delay announcing concessions on
capital gains tax reforms, saying that he wanted to ‘make the right decision’.

‘I am very aware of the fact that people want to know where they stand…but I
want to be very sure that we make the right decision…because once it is made it
is made,’ the chancellor told the FT.

On the impact of the credit crunch on bank profits and tax receipts, Darling
said it was too early to tell whether tax revenues would miss the ‘conservative’
estimates made in the pre-Budget report.

Darling said spending would remain ‘tight’ but would not comment on whether
the Treasury would have to revise borrowing forecasts as a result of the
economic downturn.

Further reading:

Government airs CGT concessions

Darling postpones CGT reforms until New
Year

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