Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing Capital Gains Tax at Income or Corporation Tax rates under a taper relief system with a proportional reduction for each year an asset has been held.

The Government keeps all taxes under review, and any changes are made at fiscal events within the context of wider public finances. The Government’s priority is supporting jobs and the economy, through the Winter Economy Plan, Plan for Jobs and the forthcoming Budget.

Any changes to the tax system will balance the need to raise revenue with the principles of fairness and market efficiency.