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Will the capital gains tax debacle bring down David Cameron?

There are serious concerns that the UK government's attempts to reorganise the capital gains tax system could backfire spectacularly. It seems as though more and more people will be brought under the capital gains tax umbrella thereby increasing government coffers at the worst possible time. Today we hear news that those in care homes, and potentially forced to sell their homes, could fall under the new capital gains tax regime as will many buy to let landlords in the UK.

The problem which David Cameron has at the moment is the fact he needs to maintain control while obviously listening to the concerns of Conservative MPs and many people around the country. We have already heard that those nearing retirement and entrepreneurs could be exempt from the new capital gains tax regime but this list is likely to grow longer as the days go by. Whether we may see yet another revamp in the short term remains to be seen but the situation is unravelling at an alarming rate.

It is well known that the Liberal Democrat party is behind the proposed changes in the capital gains tax system as traditionally the Conservative party has always been pro-investment and looked to reduce taxation where possible.

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