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Chancellor warned hiking capital gains tax on share sales will 'choke off investment' in Britain

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News,Rachel Reeves,New York Times

By increasing the tax on selling shares, Ms Reeves would boost government revenues by 'low billions' of pounds, a government source told The Times

Plans to hike capital gains tax on share sales will 'choke off investment' in Britain, Rachel Reeves has been warned.

CGT is levied on profits made when selling assets, with different rates applying depending on what type of asset it is. But Steven Fine, chief executive of investment bank Peel Hunt, said: 'If we really want a growth economy, we need risk-taking and investment.'I'd urge the Government not to take such a damaging step and choke off investment.'

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