Rishi Sunak may revise UK taxes, but perhaps not in a good way
The UK finance chief is eyeing capital gains tax, but addressing corporate taxes, or their avoidance, may make better sense
16 July 2020 - 15:16
Britain’s chancellor of the exchequer Rishi Sunak has enjoyed the kind of popularity usually reserved for rock stars and royalty. Urbane without being aloof and one of the government’s best communicators, he has put the full weight of the UK treasury into cushioning the economic blow of the pandemic and preserving jobs.
Now he has to figure out how to pay for it amid the largest decline in annual GDP for 300 years. The announcement on Tuesday night of a review into capital gains tax (CGT) is the first sign the government is looking for ways to plug the gap. Only, it’s not a hugely encouraging one...
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