Capital gains tax won't rise to 39%, Keir Starmer suggests
Capital gains tax won't rise to 39%, Starmer hints
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The prime minister has appeared to dismiss suggestions the government could raise capital gains tax (CGT) as high as 39% in this month's Budget. Sir Keir Starmer said such speculation was "wide of the mark", although he did not elaborate further. For higher earners, the levy is currently 24% on gains from selling additional property, or 20% on profits from other assets like shares. Chancellor Rachel Reeves has warned that some taxes will rise in the Budget on 30 October, claiming the government has left a ?22bn hole in the public finances.
The Guardian reported last week that Treasury officials were modelling a potential rise in CGT between a range of 33% to 39%. Asked by Bloomberg whether he could reassure investors that any potential rise would not be as high as 39%, Sir Keir replied: "Quite a lot of speculation is getting pretty wide of the mark." Pressed on whether he was referring to a 39% rise, he said: ?Yeah, it?s getting to the area which is wide of the mark. ?But I?m not going to fuel the speculation, because we can go on like this for a very long time till Budget day. ?Everybody knows that until Budget day, none of it is going to be revealed."
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