Lord Markham
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UK Economy: Capital Gains Tax
Lord Markham Excerpts(1 week ago)
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Lord Livermore (Lab)
A working person is someone who goes out to work.
Lord Markham (Con)
My Lords, given that HMRC’s own analysis shows that a 10% increase in capital gains tax is likely to lead to a £2 billion reduction in the amount it raises, can the noble Lord confirm that he will not look to increase any taxes where the net result is further costs to the public purse?
Lord Livermore (Lab)
As set out in our manifesto, we are committed to not increasing taxes on working people, which is why we will not increase national insurance, basic, higher or additional rates of income tax, or VAT. I know the noble Lord would not expect me to comment on speculation about other specific taxes.