Capital gains tax debate heats up
A proposal to introduce a capital gains tax, formally confirmed in Labour’s tax policy announcement yesterday, would appear to have the support of the new head of the Government’s economic adviser, The Treasury. Its new secretary Gabriel Makhlouf says such a tax would rebalance a distortion in the economy that favours property investment, as Executive Update’s economic correspondent Bob Edlin reports.
“Wall Street seems all too ready to return to the same untenable business practices that brought it to its knees less than three years ago. And some in government who claim to be representing Main Street seem all too ready to help,” says Sheila C Bair, who stepped down last week as chair of the USA’s banking regulatory agency, the Federal Deposit Insurance Corp (FDIC).






