TaxPersonal TaxDrop CGT for three years, urges Liam Fox

Drop CGT for three years, urges Liam Fox

Former defence secretary says that dropping CGT will stimulate economic growth

Drop CGT for three years, urges Liam Fox

SUSPEND CAPITAL GAINS TAX for three years to stimulate economic growth, says former defence secretary Liam Fox.

His call for a CGT postponement came in an interview with the Times, in which he also asks for employment laws to be relaxed to make it easier to hire and fire employees.

“If we don’t take some risks, we’ll not get growth and if we don’t get growth, we’ll not get re-election,” Fox said in the interview.

The BBC’s report of his comments suggests that it is a retort against Lib Dem calls for tax increases.

Last week, chancellor George Osborne announced an easing of tax hikes for oil and gas companies. Older oil and gas fields will be shielded from the supplementary charge to petroleum revenues. The tax ‘shield’ is known as the Brown Field Allowance.

 

Related Articles

Colin: Disappearing into Osborne's black hole

Personal Tax Colin: Disappearing into Osborne's black hole

1y Taking Stock
Osborne and Darling warn of £15bn post-Brexit tax hike

Personal Tax Osborne and Darling warn of £15bn post-Brexit tax hike

1y Richard Crump, Writer
Government should rethink “digitally distracted” HMRC, ATT urges

Administration Government should rethink “digitally distracted” HMRC, ATT urges

1y Fraser Simpson, Reporter
Banks’ £135m tax avoidance scheme shutdown by authorities

Corporate Tax Banks’ £135m tax avoidance scheme shutdown by authorities

2y Fraser Simpson, Reporter
Parliament to debate digital tax accounts this month

Administration Parliament to debate digital tax accounts this month

2y Calum Fuller, Reporter
UK has ‘vital role to play’ in beating tax evasion, declares Panama Papers whistleblower

Corporate Tax UK has ‘vital role to play’ in beating tax evasion, declares Panama Papers whistleblower

2y Fraser Simpson, Reporter
Cameron to announce new corporate offence for tax evasion

Administration Cameron to announce new corporate offence for tax evasion

2y Fraser Simpson, Reporter
Budget 2016: Personal tax roundup

Personal Tax Budget 2016: Personal tax roundup

2y Calum Fuller, Reporter