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Is the CGT rise a sign of things to come?

Brian Souter, one of the founders of the Stagecoach empire, has expressed relief that the UK government "only" increased capital gains tax from 18% to 28% but there is speculation this is just the tip of the iceberg. Likening the situation to a condemned man who is given a short-term reprieve he was commenting upon speculation of a rise to 50% which would have had a major impact upon the UK investment market.

While the smaller than expected increase has been welcomed across the board, especially the fact that it only relates to high-income earners, there is a feeling this is only stage one of a further attack on the CGT system. Even though capital gains tax is one of the most expensive taxes to collect, the government it would appear most certainly has it on the radar of future tax rises. But why is David Cameron looking to penalise investors?

There is a strong feeling that the rise in capital gains tax is one of the conditions that David Cameron gave to the Liberal Democrat party in exchange for an agreement to form a coalition government. But what other surprises has the government got in store for us?

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