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While today’s decision by the Bank of England MPC was literally a no brainer it does not help the thousands of home owners who are struggling to make ends meet. As we read another report from the...
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Friday 14th December 2007
Chancellor of the Exchequer, Alistair Darling, has revealed that he will not make any decision on capital gains tax changes until the new year.
The chancellor stated that he is still taking representations from interested parties on the future of capital gains tax and the way in which it should be reformed, but the revised plans will now not be launched until January.
Plans were unveiled earlier this year for the introduction of a flat rate of capital gains tax set at 18 per cent, but the proposal was criticised by business lobby groups, which have made their feelings known to the chancellor.
The Conservatives have seized on the delay and shadow chancellor George Osborne described the move as a "humiliation" for Mr Darling.
He added that "thousands of small businesses" are being left in the dark about the future of capital gains tax and need to know as soon as possible what the situation will be in future.
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